Yoma Bank Launches the First Co-badged MPU-Mastercard Debit Card
The pioneering initiative marks cutting-edge milestone in Myanmar’s banking sector
Yangon, 4th April 2024 – Yoma Bank proudly announces the launch of the first co-badged Debit Card with MPU and Mastercard in Myanmar as a pioneering initiative in the banking sector. The launch represents a symbol of strong collaboration by Myanmar Payment Union (MPU), Mastercard and Yoma Bank, aimed at delivering numerous and incredible benefits to Yoma Bank customers.
The newly introduced MPU-Mastercard Debit Card ensures Yoma Bank customers experience worldwide privilege programs, with enhanced acceptance both domestically and internationally. With Mastercard’s global network, cardholders can make online or overseas purchases conveniently, while also enjoying widespread usability domestically through the Myanmar Payment Union network.
“We are thrilled to have collaborated with Myanmar Payment Union and Mastercard to bring this initiative to our customers. The launch of MPU-Mastercard Debit Card not only strengthens Yoma Bank’s commitment to financial inclusion but also empowers individuals and businesses across Myanmar. With its integrated and innovative features, the card promises to elevate the overall payment experience and ensure seamless transactions,” said by Daw Khin Mu Mu Myint, Chief Consumer Banking Officer of Yoma Bank.
Starting from April 9th, 2024, Yoma Bank’s customers with a Flexi Everyday Account can apply for the MPU-Mastercard Debit Card at Yoma Bank Yangon and Mandalay branches with no annual fee. The debit card will be available nationwide from 2nd May 2024 onwards. Leveraging MPU’s and Mastercard’s domestic and global networks respectively, cardholders can enjoy seamless e-commerce transactions, POS facilities at merchants and ATM withdrawals both locally and internationally, wherever MPU and Mastercard cards are accepted. This simplifies financial management for cardholders, allowing for seamless transactions without the need to carry multiple cards. Furthermore, cardholders will have the opportunity to enjoy a variety of rewards and benefits introduced by Yoma Bank, Myanmar Payment Union, and Mastercard.
With Mastercard’s global acceptance network, cardholders can get access to over 100 million in-store and online merchants in more than 210 countries and territories worldwide. In addition to global access, the partnership with Myanmar Payment Union offers local advantages, enabling transactions with over 500 e-commerce merchants and 34,000 POS facilities nationwide.
The debit card, seamlessly linked with the Flexi Everyday Account, provides users with a streamlined financial experience. Right after obtaining the card, cardholders can access promotional offers and rewards by Mastercard, such as exclusive deals and benefits at global hotel chains and customized mobility solutions, etc. For Mastercard’s special offers, visit https://specials.priceless.com/. For special benefits exclusive to Yoma Bank, please visit the https://www.yomabank.com.
Yoma Bank has 85 branches strategically located across the country. With the mission of “Building a Better Myanmar for its People”, Yoma Bank is constantly striving to create shared values that promote the development of smarter lifestyles for individuals and communities.
About Yoma Bank
As ‘the Responsible Bank’ for 30 years, Yoma Bank has been the fastest developing private bank in Myanmar. By strategically investing in its people, technology and governance, Yoma Bank has developed a trusted reputation within the community, which has been an essential part of establishing local and international partnerships to progressively move forward. Yoma Bank was the first local bank in Myanmar to welcome a foreign financial institution. GIC, Greenwood Capital Pte Ltd, and Norfund, Norwegian Investment Fund for developing countries, have been a trusted affiliate of Yoma Bank. These strategic partnerships have demonstrated Yoma Bank’s strong position in Myanmar’s financial sector and its commitment to achieving sustainable capital growth. Yoma Bank always prioritizes the interests of its customers, upholds the highest standards of integrity, and provides the best customer service achievable through strong cooperation.
