China Union Pay (CUP) bank card joins Myanmar Payment Union (MPU)

Holders of China Union Pay (CUP) bank cards will be able to use them in Myanmar by early 2013 following the signing of agreements with the Myanmar Banks Association on November 24.
Holders of international bank cards with agreements with  CUP will be able to use it in the automatic teller machines of the 17 private banks that are members of the Myanmar Payment Union (MPU), according to the press release on Asia Green Development Bank’s (AGD) Facebook page.
Even though Myanmar has mostly relied on a cash economy since the 2003 banking crisis, the sector needs to reform and modernise in order to offer better service to foreigners who will visit for the Southeast Asian Games in December 2013 and the chairing of ASEAN in 2014.
Source: The Myanmar Times