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Myanmar's ATM cardholder numbers remain low

July 3, 2013

ATMs are back on line in Myanmar after a hiatus of several years, but the number of users remains low, according to the Central Bank of Myanmar.

Today, 161,601 cardholders have access to the nation's 275 machines — a relatively low proportion compared to other regional markets, said an article by Eleven Myanmar. Given those numbers, the ratio of ATMs to cardholders stands at about 587:1.

Currently, seven private banks offer ATM services through Myanmar Payment Union, the only network operating in the country. In addition to cards issued through MasterCard and Visa, the network accepts cards from China UnionPay and JCB of Japan.

Myanmar lacked ATM service for eight years, due to international sanctions levied against the country's repressive military government.

The installation of a more moderate, quasi-civilian government has led to the loosening of sanctions, enabling the country to begin modernizing its financial system

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