News Update

Myanmar Citizens Bank Ltd and 2C2P Pte Ltd launched Complete POS solution with online real time report, slip with merchant logo and pre-authorization for call center sales

YANGON, February 5, 2014 – Myanmar Citizen’s Bank (MCB), one of the licensed private bank in Myanmar and 2C2P Pte Ltd (2C2P), a leading provider of innovative payment solutions in Asia-Pacific, officially launch the complete POS solution for merchants in Myanmar to accept major international payment cards (Visa and MasterCard). The new service includes comprehensive payment processing capabilities for Visa and MasterCard cards coupling with three key unique features considered to be the first of its kind in Myanmar. Those three key features are:

1. Providing merchants with ability to view and manage their POS transactions from online web-based report real-time providing management and accounting department of merchants with the ability to monitor and control their transactions
2. Allowing merchants with ability to display their corporate logos on sales slip and hence enhancing their corporate image for their guests
3. Allowing reservations and call center sales representative to pre-authorize the Visa and MasterCard using POS machine and manage the transactions using real-time online web based reporting tool

U Myint Win, Managing Director of Myanmar Citizens Bank said “MCB and 2C2P have been working together for the past six months to perfect the POS solution we are launching today. We pay a lot of attentions to details and we make sure that the service we offer is high quality before signing up the merchant. Our team has obtained extensive training abroad to support our clients. We make sure to get the product right and fit to the needs of our customers. We strongly believe that our current and future clients will gain great benefits from our POS solution.”

Entire POS solution runs on 2C2P’s PCIDSS Level 1 (Payment Card Industry Data Security Standard Level 1) payment platform. PCIDSS Level 1 is the highest security standard recognition set by the payment industry. With POS solution offered by MCB and 2C2P, customers can easily notice and remind what they paid for by looking at merchant logo on the payment slip. In addition, the merchants can view transactions from their computers online real-time, get daily report and manage all transactions. By using Pre-authorization feature, merchants can now take the foreign reservations without worrying about no-show and lose the opportunity. Merchants' management and accounting team can use online real-time reporting tool to charge the pre-authorization transaction if there is a no-show customer.

Mr. Somboon Krobteeranon, Visa Country Manager, Myanmar and Thailand said “We congratulate Myanmar Citizens Bank on joining Visa’s network to expand the acceptance of electronic payments across Myanmar. Visa’s partnerships with Myanmar financial institutions to provide fast and secure means of payment have provided real benefits to international travelers and the Myanmar economy. We look forward to working with Myanmar Citizens Bank further as we are committed to supporting the development of Myanmar’s financial infrastructure.”

Mr. Antonio Corro, Country Manager, Myanmar and Thailand, MasterCard said: “The rollout of Point-of-Sale terminals by Myanmar Citizens Bank will benefit international visitors looking for convenient and secure payment channels when they arrive in Myanmar and help manage the huge demand that visitors are placing on the country right now. But beyond that, this roll-out will also benefit the merchants themselves as they will be able to have real-time reporting on transactions made, allowing for better monitoring and control, which is definitely one of the key benefits of electronic payments.”

Aung Kyaw Moe, Founder and Group CEO of 2C2P added: “I am thrilled to be back to Myanmar and serve clients in Myanmar. We aim to launch a few more interesting and unique products in the near future.”

POS solution by MCB and 2C2P in Myanmar are now available for all the merchants in Myanmar. Please contact Myanmar Citizens Bank for more information. The promotion period ends on 15 February 2014.