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Myanmar not close to international ATM service yet, Visa says

August 21, 2012

Reports from Myanmar have said that the government is working with Visa to implement international ATM service after an 8-year hiatus caused by economic and administrative issues. But Visa says that poor ATM infrastructure means that the country is months away from flipping the switch on international service.

The country is working fast to enact needed reforms to modernize its payments systems in advance of next year's Southeast Asian Games and a regional meeting of the World Economic Forum. But as yet, the average Burmese business is not able to accept international credit cards, said a report at Mizzima.

It has just been within the past year that the U.S. and other countries have lifted sanctions against Myanmar, following the installation of a new government there and promises of political and social reform.

In the wake of eased sanctions, Myanmar, previously known as Burma, has been working to modernize its badly outdated financial systems. Just last week, the government announced that it was upgrading its ATM network to allow debit cardholders to withdraw cash from any ATM in the country. 

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