MasterCard and Myanmar’s Myanma Apex Bank have partnered to launch a prepaid MasterCard the enterpriseinnovation.net website reported on 22 July.
The MAB Travel Prepaid MasterCard aims to provide Myanmar customers with an easier way to pay for purchases during their travels or make online purchases.
The latest MasterCard survey on Consumer Purchasing Priorities – Travel indicates that 3 out of 5 Myanmar consumers surveyed intend to travel within the next 12 months (either as much or more than they did in the past 12 months).
The launch forms part of MasterCard’s plans to expand its reach to previously unbanked markets. Besides the MAB Travel Prepaid MasterCard, the company has launched prepaid cards together with Co-operative Bank Ltd, Kanbawza Bank Ltd, Ayeyarwady Bank Ltd, and Myanmar Citizen Bank with 2C2P, the last of which was also Myanmar’s first smartphone-enabled Prepaid Card.