News

GRG tells the story behind Myanmar's first new ATM in 8 years

February 22, 2012

At this year's ATMs 2012 conference, GRGBanking provided attendees the backstory to the installation of the first ATM in Myanmar in eight years, said a news release. The conference took place Feb. 14–15 in Beijing and was jointly hosted by ATMIA and RBR.

When Myanmar experienced a local liquidity crisis in 2003, the use of ATMs and bank cards was suspended. It was not until Nov. 1, 2011 that the population regained ATM access. At that time Cooperative Bank Ltd. opened the country's first new GRG Banking ATM at its head office in Yango.

Before reopening its ATMs, Myanmar appointed GRG and its Myanmar partner MIT to develop Myanmar's national financial switching and its bank card and Myanmar Payment Union payment card systems, known as EasiBanking.

The banking system in Myanmar is now connected by GRG’s interbank National Payment System transaction settlement system. This will allow cardholders in Myanmar to use their cards across banks, regions and borders. NPS provides an international gateway for providers such as VISA, MasterCard and others.

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