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Myanmar's KBZ Bank issues UnionPay credit cards

19 October 2016  |  2777 views  |  1 Source: UnionPay International

UnionPay International and Kanbawza Bank (KBZ Bank) have begun issuing credit cards to customers.

The card is from UnionPay and will come in two forms: a Classic Card and a Platinum Card. This will allow people to purchase goods and services, as well as withdraw cash, up to a credit limit.

Credits cards will give customers greater flexibility when making purchases. Whether it is for that special big-ticket treat that couldn't wait for pay day, or just regular little transactions, the credit cards allow people to plan their finances more carefully and pay everything back at the end of the month.

People can use the cards, which are enabled with a smart chip and PIN for added security, at all Myanmar ATMs and at all UnionPay participating outlets, including online. One of the benefits is that the base currency is Myanmar Kyat, meaning that with the KBZ UnionPay credit cards, Myanmar travellers will be able to withdraw cash from more than two million international ATMs and pay at stores abroad, at equal daily exchange rates of the foreign country currency.

Cardholders of the Platinum Card are offered added value. For example a 20% discount is available in any F&B outlets at the Sule Shangri-La in Yangon. They can also benefit from UnionPay's Asia Prestige Program, which promises great extras such as access to VIP airport lounges around the world, access to lounges at 20 railway stations in China, travel insurance and other exciting benefits.

"KBZ MPU UnionPay Cardholders can now transact at over 35 million merchants covering 160 countries and region in UnionPay's global payment network. In addition, with access to lounges in over 400 airports globally, special offers at many hotels, fine dining restaurants, shopping and entertainment venues, the KBZ MPU UnionPay Platinum Asia Prestige Credit Card is truly the best in class to cater to the travel and lifestyle needs of the frequent Myanmar traveller," said a representative from UnionPay International.

"KBZ Bank hopes that people will find the credit cards useful, especially for the things which matter most in life," said a bank representative. "It can be for treats, for luxury items like holidays abroad or for financial management, we are available to serve people get the most out of this exciting new KBZ product."

Comments: (1)

A Finextra member
A Finextra member | 19 October, 2016, 14:32

Would have been interesting to know the Card Management System used...

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