News Update

2C2P in Joint Venture with Myanmar Citizen’s Bank to Meet Growing Need of Businesses in Myanmar

YANGON, Myanmar (18 July 2013) – 2C2P Pte Ltd (2C2P), a leading provider of innovative payment solutions in Asia-Pacific and Myanmar Citizen’s Bank (MCB) officially formed a Joint Venture to jointly provide payment processing services to business customers in Myanmar.

Commenting on the Joint Venture, U Myint Win, Managing Director of MCB said: “We are delighted to be partnering with 2C2P to offer businesses innovative yet relevant banking and payment products. 2C2P’s experience and track record in banking and financial services technology, and MCB’s network, trustworthiness and ambition provide a strong platform for growth as Myanmar’s economy continues to open up.”

Recognised as one of the world’s last emerging markets, Myanmar’s population of 60 million is largely under-banked and still very much a cash-based economy.

Aung Kyaw Moe, Founder and Group CEO of 2C2P added: “We are honoured to partner MCB at this exciting phase of Myanmar’s development. We believe our technical expertise, payment platform solutions and experience in understanding consumer payment needs in emerging and developed economies in South East Asia will help us optimise the development of appropriate products and services to engage the Myanmar marketplace.”

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