Myanmar Payment Union

Myanmar Payment Union (MPU) is a Myanmar financial-services corporation and domestic payment-card scheme headquartered in Yangon. It was organized on 15 September 2011 under the direction of the Central Bank of Myanmar by a group of state-owned and privately owned banks. Its initial purpose was to provide shared ATM and point-of-sale switching infrastructure, allowing participating banks to interconnect their card services rather than operate entirely separate networks. MPU cards began being issued on 14 September 2012. The network enabled cardholders of participating banks to use compatible ATMs across member institutions for services including cash withdrawals, balance inquiries, and transfers or remittances involving their accounts. This interoperability made MPU an important component of Myanmar’s domestic banking and payments infrastructure, particularly as the country expanded the use of bank cards and electronic transactions. The organization also developed links with international payment systems. On 23 November 2012, Japan Credit Bureau (JCB) signed an agreement concerning use of its payment system with the Myanmar Banks Association. China UnionPay (CUP) followed with an agreement on 24 November 2012. These arrangements were intended to allow holders of international cards affiliated with JCB or UnionPay to use those cards at ATMs operated by MPU member banks, subject to the applicable arrangements and acceptance capabilities. MPU’s membership expanded from 16 banks at its formation to 23 members by 19 January 2017, according to the cited reference material. Participating institutions included AYA Bank, Asia Green Development Bank, CB Bank, KBZ Bank, United Amara Bank, Myanma Apex Bank, and Yoma Bank. The network therefore functioned as shared infrastructure for a broad group of Myanmar banks rather than as a conventional consumer brand with independently operated branches. A notable later development was AYA Bank’s introduction of a JCB-MPU co-branded card on 18 August 2017. The product combined domestic MPU functionality with JCB acceptance, giving eligible cardholders the ability to use the card locally through MPU and internationally through JCB. MPU’s documented role is consequently centered on domestic card-network interoperability, ATM and POS switching, bank-issued cards, and connections between Myanmar’s banking system and selected international payment networks. Publicly available reference material does not establish a separate retail website, stock-market listing, named individual founder, or current executive leadership for the organization.

Myanmar Payment Union was established in Yangon on 15 September 2011 under the direction of the Central Bank of Myanmar. Its formation brought together state-owned and privately owned banks with the objective of creating shared payment infrastructure. Rather than requiring each bank to maintain an isolated card and ATM network, MPU was designed to connect participating institutions through common switching services for automated teller machines and point-of-sale transactions. The network’s first major consumer-facing service was the MPU card. Cards began to be issued on 14 September 2012. Through the participating-bank network, cardholders could use compatible ATMs operated by member banks to withdraw cash, check balances, and conduct transactions involving funds held with participating institutions. This interoperability was a central part of MPU’s role in the development of Myanmar’s domestic electronic-payment system. MPU also pursued connections with international payment schemes. On 23 November 2012, Japan Credit Bureau signed an agreement concerning the use of its payment system with the Myanmar Banks Association. China UnionPay signed a comparable agreement on 24 November 2012. The arrangements were intended to permit holders of eligible JCB- or UnionPay-affiliated international cards to use ATMs operated by MPU member banks, subject to the technical and commercial terms of the relevant arrangements. The organization broadened its institutional base during the following years. It began with 16 members from state and private banking sectors and was reported to have 23 members by 19 January 2017. Banks identified in the reference material include AYA Bank, Asia Green Development Bank, CB Bank, KBZ Bank, United Amara Bank, Myanma Apex Bank, and Yoma Bank. The expanding membership reflected MPU’s role as a shared domestic network serving multiple independent financial institutions. A further step toward linking domestic and international payment functions came on 18 August 2017, when AYA Bank introduced its first JCB-MPU co-branded card. The card was designed to support MPU usage in Myanmar while also providing JCB functionality for international use. Based on the available reference material, MPU is best understood as a domestic payment-network and financial-infrastructure organization rather than a conventional retail bank. Its documented activities include card issuance through member banks, ATM and POS switching, interbank transaction interoperability, and cooperation with international card schemes. The available material does not identify a named individual founder, a current executive roster, a dedicated public website, or a stock-market listing.

• 2017

  Membership expands to 23 banks

  [1]Myanmar Payment Unionen.wikipedia.org

  MPU was reported to have grown from 16 founding members to 23 members by 19 January 2017.

• 2017

  AYA launches a JCB-MPU co-branded card

  [1]Myanmar Payment Unionen.wikipedia.org

  AYA Bank introduced its first card combining MPU domestic functionality with JCB international acceptance.

• 2012

  MPU cards begin issuance

  [1]Myanmar Payment Unionen.wikipedia.org

  MPU cards became available through participating banks, allowing interoperable use of compatible member-bank ATMs.

• 2012

  International scheme agreements are announced

  [1]Myanmar Payment Unionen.wikipedia.org

  JCB and China UnionPay signed agreements connected with access to MPU member-bank ATM infrastructure for eligible international cardholders.

• 2011

  Myanmar Payment Union is established

  [1]Myanmar Payment Unionen.wikipedia.org

  State-owned and privately owned banks organized MPU in Yangon under Central Bank of Myanmar direction, initially bringing together 16 members to develop shared ATM and POS switching.

A domestic, bank-owned or bank-participant payment infrastructure and card-network brand focused on interoperability among Myanmar financial institutions, with selected links to international schemes.

• Domestic bank cards · 2012

  MPU cards

  Cards issued through participating Myanmar banks and connected to the MPU domestic payment network. They support use at compatible member-bank ATMs and, depending on the issuing bank and product configuration, related domestic payment functions.

• Payment infrastructure · 2011

  MPU ATM and POS switching

  The network’s core infrastructure connects participating banks for ATM and point-of-sale transaction routing. Its original purpose was to let member institutions share switching services and provide customers with interoperable access across the participating banking network.

• Co-branded payment card · 2017

  JCB-MPU co-branded card

  A card introduced by AYA Bank that combined MPU functionality for domestic use in Myanmar with JCB functionality for international use. It represented a product-level connection between the domestic MPU network and an international card scheme.

• 2017

  Support a JCB-MPU co-branded cardProduct launch

  Background

  Domestic MPU acceptance could be combined with international card functionality through a bank-issued co-branded product.

  Action taken

  AYA Bank introduced its first JCB-MPU co-branded card on 18 August 2017.

  Aftermath

  The product offered a documented route for combining domestic MPU use with JCB international use.

  Source

• 2012

  Connect the domestic network with international card schemesStrategy

  Background

  International cardholders needed access to ATM infrastructure operated by MPU member banks.

  Action taken

  Agreements were signed with JCB and China UnionPay concerning use of their payment systems and access through member-bank ATMs.

  Aftermath

  The arrangements extended the practical reach of MPU-linked ATM infrastructure to eligible JCB and UnionPay cardholders.

  Source

• 2011

  Create a shared domestic payment switchStrategy

  Background

  Myanmar banks needed interoperable ATM and point-of-sale infrastructure connecting state-owned and private institutions.

  Action taken

  Banks organized Myanmar Payment Union under Central Bank of Myanmar direction, initially with 16 members.

  Aftermath

  MPU became a domestic card and switching network supporting shared access across participating banks.

  Source

• 2017

  MPU membership reaches 23 banks[1]Myanmar Payment Unionen.wikipedia.org

  Other

  The network had expanded from 16 founding members to 23 members by 19 January 2017, indicating broader adoption among Myanmar banks.

• 2017

  AYA Bank introduces a JCB-MPU co-branded card[1]Myanmar Payment Unionen.wikipedia.org

  Product launch

  AYA Bank launched its first JCB-MPU co-branded card, combining MPU use within Myanmar with JCB functionality for international transactions.

• 2012

  MPU cards begin issuance[1]Myanmar Payment Unionen.wikipedia.org

  Product launch

  MPU cards began to be issued, enabling customers of participating banks to use compatible ATMs across member institutions for withdrawals, balance inquiries, and related account transactions.

• 2012

  JCB signs agreement connected with Myanmar payment acceptance[1]Myanmar Payment Unionen.wikipedia.org

  Other

  Japan Credit Bureau signed an agreement concerning use of its payment system with the Myanmar Banks Association, supporting access for eligible international cardholders at MPU member-bank ATMs.

• 2012

  China UnionPay follows with a payment-system agreement[1]Myanmar Payment Unionen.wikipedia.org

  Other

  China UnionPay entered a similar agreement the day after the JCB arrangement, extending the international-card connectivity associated with Myanmar Payment Union member banks.

• 2011

  Myanmar Payment Union is organized by state-owned and private banks[1]Myanmar Payment Unionen.wikipedia.org

  Other

  Under the direction of the Central Bank of Myanmar, state-owned and privately owned banks organized Myanmar Payment Union in Yangon to provide shared ATM and point-of-sale switching services.

1. 1Myanmar Payment Unionen.wikipedia.org