News Update

Myanmar Citizens Bank and 2C2P Sign Memorandum of Understanding

YANGON, Myanmar (June 11, 2013) – 2C2P, a leading provider of innovative payment solutions, and Myanmar Citizens Bank (MCB), one of the largest publicly-traded banks in Myanmar , sign a Memorandum of Understanding outlining plan to launch joint projects in Myanmar starting from 2013.

In the Memorandum of Understanding, signed by U Myint Win, Managing Director of MCB and Aung Kyaw Moe, 2C2P Founder and Group CEO, the parties stated intention to form a Joint Venture and work together towards launching and managing joint banking and financial products for Myanmar.

“We believe that, by combining MCB’s reach and trustworthiness with 2C2P’s innovations in the financial sector, we will be able to offer very innovative products to the citizens of Myanmar”, - stated U Myint Win, Managing Director of Myanmar Citizens Bank. – We hope our partnership will be long-standing and will bring many benefits to our existing and potential customers”.

“We’re honored by the opportunity to work together with one of the Myanmar’s largest bank, such as MCB. This preliminary agreement, which we expect to transform into long-term partnership, is strong indication of trust in our technology and solutions, which we plan to bring to Myanmar as early as this year”, - said Aung Kyaw Moe, 2C2P Founder and Group CEO.

About 2C2P Pte. Ltd.
2C2P (stands for Cash and Card Payment Processor) is a comprehensive payment solutions provider, transforming millions of everyday payments in Asia Pacific. The company offers solutions from traditional payment gateway to alternative cash payment processing, as well as variety of innovative payment solutions tailored for the needs of e-commerce and m-commerce merchants, banks and financial institutions of any size. Web: http://www.2c2p.com

About MCB
Myanmar Citizens Bank Ltd (MCB) was established in 1991 and is a public bank, partially owned by the Government (Ministry of Commerce) and listed on Myanmar Security Exchange Centre (MSEC). As of mid 2012, MCB’s authorized capital is 20 billion MMK and total paid up capital is 17.61 billion MMK. Web: http://mcb.com.mm