GRG has signed an exclusive partnership agreement with its Myanmar’s partner MIT to develop Myanmar’s national bankcard system – Myanmar Payment Union (MPU).

The project is approved by the Ministry of Finance and led by the Payment Committee of the Central Bank of Myanmar. MIT had earlier been awarded the contract as the official exclusive technology partner of this project. Amongst other partners of MIT in this project they are, Ingenico, Stratus, New Edge and Access Spectrum.

The MPU project is to build a national financial switching system interconnecting all ATM & POS systems in particular of Myanmar’s banks and all payment card systems in general. MPU will be Myanmar’s only official national financial switching network, working with banks in Myanmar to develop and launch card-based services enabling cardholders to initiate transactions at anytime, anywhere in Myanmar and in the world at later phase of the project. Currently, Myanmar has no any kind of financial switching or card payment network.