Global Treasure Bank issues its first bank cards in Myanmar

Global Treasure Bank (GTB) has launched its first set of bank cards in partnership with the global payments brand, UnionPay.

Featuring three credit cards - one Platinum UnionPay credit card and two Classic UnionPay credit cards - equipped with UnionPay QuickPass, this set of cards will enable GTB cardholders to make contactless and QR code payments via UnionPay’s global network, providing greater convenience and enhancing the ease of payment for consumers in Myanmar.

The partnership also covers an inaugural cooperation in system development and card data management, with these services being provided by UnionPay Data Services. As a first cooperation of its kind between UnionPay International (UPI) and UnionPay Data Services in Myanmar, this paves the way for more banks in Myanmar to work with a leading outsourcing provider in card-issuing data processing like UnionPay Data Services to issue bank cards.

UnionPay has partnered with six banks in Myanmar to issue a range of UnionPay prepaid, debit and credit cards. The GTB UnionPay credit cards mark the first set of UnionPay single-logo credit cards to be launched in Myanmar, which are accepted at almost all ATMs and POS terminals in the country. The GTB UnionPay cards can also be used by cardholders to make payment at over 45 million merchants worldwide, including contactless payments at over 10 million point of sale (POS) terminals within the UnionPay network.

As one of the leading commercial banks in Myanmar, GTB has an extensive network throughout the country. With the launch of the new GTB UnionPay credit cards, this will enable GTB Cardholders to enjoy a wide range of offers at thousands of merchants globally, including merchants located at some of the favourite travel destinations for people in Myanmar - such as Hong Kong, Singapore, Thailand and more.

Wenhui Yang, general manager of UnionPay International South-east Asia, said: “UnionPay’s goal is to serve the payment needs of the market by connecting consumers, businesses and financial institutions with cost-effective, secure and state-of-the-art payment technologies. Together with GTB and our local partners, we can now upgrade the payment infrastructure in Myanmar to roll out QR Code payments, mobile wallets and other cutting-edge payment solutions for people in Myanmar to enjoy more convenient and secure ways to pay.”