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MPU provides improving efficiency payment services to customers that enable non cash payment and reduce cash payment.
MPU have 23 banks as members under the authorization of the Central Bank of Myanmar.
The history of MPU back to 1995, firstly introduced ATM and Credit cards among the Banks.
In 2003, stopped the Credit card system because of government finance problems.
In 2010, Banking and changing payment system were one of the main responsibilities for improving Myanmar principal financial.
Under the authorization of the Central Bank of Myanmar, MPU was founded by 17 banks as members and started the payment network in 2012.
In 2015, MPU has been transformed into public company with 23 banks as members.
Among all of these, 19 banks provide services for Debit Card System, ATM and POS.
The main purpose of MPU is to create National Payment Switch (NPS) electric platform as Myanmar and to attain inter probability among banks for online retail transactions.
In early 2013, MPU has been contracted with UPI (UnionPayInternational) to access Union Pay card from international banks.
MPU introduced to use a JCB (Japanese Credit Bureau) in the network of Myanmar Payment Union.
In 2015, MPU has been contracted to produce a co – brand card together with partner organizations UPI and JCB.
The Myanmar Payment Union has three types of card system as MPU Credit Card, MPU Debit Card and MPU Co-Brand Card. Debit Cards can draw money directly from ATM and can use payment for purchasing with Point of Sales (POS) and can also use online shopping payment if you have MPU E-Commerce Account.
It is possible to get interest if your debit account is connected with saving account and also have a chance to get discount from shopping in bank’s partner shops.
A credit card allows you to borrow money in small amounts at local merchants. You can draw money directly from ATM and can use payment for purchasing with Point of Sales (POS) and can also use online shopping payment if you have MPU E-Commerce Account.
You can use no interest in limited time and then the bank will charge you interest on your purchases.
The last one is Co-Brand Card is the card with the logo of MPU-JCB or MPU- Union Pay. You can use the Co – Brand Card in other countries that allowed to use JCB and Union Pay Card.
Myanmar Payment Union (MPU) can draw money directly from ATM at least form 1,000 Kyats to 1,000,000 Kyats across the country. In other countries, you can use the MPU card under the law of MPU-JCB and MPU- Union Pay.
In Shopping Centers and Restaurants, you can also use the MPU card for payment at least from 1,000 Kyats to 5,000,000 Kyats.
You can also safely purchase on Online Website that have MPU logo.
Myanmar Payment Union (MPU) and Point of Sale (POS) connect by 19 banks and MPU E-Commerce connects by 19 banks across the country.