Today, Visa and CB Bank launched the CB Bank EASI Travel Visa card for Myanmar cardholders to use when traveling overseas. This marks another milestone in the development of the country’s financial system, opening the global marketplace to locals who are traveling internationally for business and leisure.
The CB Bank EASI Travel Visa card offers ultimate convenience and security. The card can hold up to three currencies (Euro, US$, SG$) at one time, and is designed to meet the needs of the growing segment of Myanmar nationals who are traveling abroad in record numbers1. It can be used for overseas transactions anywhere Visa is accepted – at tens of millions of merchants, either online or in-store, as well as to withdraw cash at 2 million ATMs worldwide.
Mr. Somboon Krobteeranon, Visa Country Manager for Myanmar and Thailand, believes the announcement of December 5 ushers in a new era for Myanmar, allowing locals to make payments abroad with greater peace of mind, without having to worry about bringing cash or coins on their travels.
“This latest development is the result of the vision and leadership of the Central Bank of Myanmar and CB Bank to modernize payments for the people of Myanmar. In the past year, we’ve seen tremendous growth within the local banking sector, and believe the potential continues to remain high for Myanmar to leapfrog traditional payment systems. This opens doors to a financially inclusive infrastructure that will benefit the country’s outbound tourism – including local cardholders and international merchants.” more…