Myanmar Payment Union

What Myanmar Payment Union does

Myanmar Payment Union (MPU) is the designated National Payment Switch (NPS) operator of Myanmar, established in 2011 under the guidance of the Central Bank of Myanmar and incorporated as a Public Co.,Ltd in July 2015. The company is consortium-owned by 30 member banks and is not publicly traded or venture-backed. MPU operates the domestic electronic payment rail of Myanmar, connecting member banks, financial institutions, merchants, and consumers through four core service modules: ATM cash access, POS card acceptance, E-Commerce online payments, and IBFT (Inter Bank Fund Transfer). It supports domestic MPU-branded debit, credit, and prepaid cards, as well as MPU-JCB and MPU-UPI co-brand cards for international acceptance.

The underlying technology is a centralized switch infrastructure that standardizes interoperability across all participating banks, with 39,000+ POS terminals, 600+ online merchants, and 905,000+ registered e-commerce users, processing 158,000+ transactions per day. POS hardware is sourced from 20 certified brands including Sunmi, Ingenico, Verifone, and Nexgo, and international card schemes (JCB, UPI) are accepted at the network level.

MPU monetizes primarily through transaction-based fees: interchange of 0.5%–1% on ATM withdrawals, IBFT charges of 200 kyats flat plus 0.05% of the transferred amount, and network/service fees from member banks. The company distributes through member bank branches, the ATM/POS network, and a self-service e-commerce enrollment portal. Its go-to-market is essentially partnership-led (banks issue MPU cards and deploy terminals), supplemented by direct consumer enrollment for e-commerce. There is no disclosed consumer-facing mobile app, and the company does not publish audited revenue figures.

Name

Myanmar Payment Union

Legal name

Myanmar Payment Union Public Co.,Ltd

Website

https://myanmarpaymentunion.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Myanmar Payment Union (MPU) is the Central Bank-backed national payment switch of Myanmar, operated as a consortium of 30 member banks to provide interoperable ATM, POS, e-commerce, and interbank fund transfer services across the country.

Ownership category

akta.pro rank

Product category

Payment Network Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Functions Related To Depository Banking, Nec (6099), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE)

akta.pro secondary industries

Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC), Alternative Payment Method (APM) Acquiring (e.g., BNPL, wallets, local methods) (FSAMABAL), Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE)

Keywords

• National payment switch
• Card payment network
• Inter-bank fund transfer
• ATM POS services
• Payment processing infrastructure

Headquarters

HQ city

Yangon

HQ country

Myanmar (Burma)

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Interchange Fees: Transaction fees charged on cash withdrawals and fund transfers. ATM cash withdrawals (Off-Us) at member bank branches charged at 0.5% to 1% interchange fee. IBFT transfers charged at flat 200 kyats plus 0.05% of transfer amount.
2. Network Services: Fees from member banks for connecting to the national payment switch, ATM, POS, and e-commerce infrastructure.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Myanmar Payment Union (MPU) operates Myanmar's national payment switch (NPS) infrastructure, connecting 30 member banks and enabling interoperable electronic payments across ATM cash withdrawals, POS card acceptance, e-commerce transactions, and inter-bank fund transfers. MPU issues MPU-branded credit, debit, and prepaid cards (plus MPU-JCB and MPU-UPI co-brand variants) processed through its central switching network.

Product overview

Myanmar Payment Union (MPU) operates a national payment network infrastructure comprising four core service modules: ATM (cash withdrawal and balance services), POS (card payment acceptance at merchants), E-Commerce (online payment processing), and IBFT (inter-bank fund transfers). The network issues and processes three primary card types (Credit, Debit, and Prepaid) under the MPU brand, supplemented by two co-brand variants (MPU-JCB and MPU-UPI) that extend acceptance internationally. MPU connects 30+ member banks, processes 158,000+ daily transactions across 39,000+ POS terminals, and serves 905,000+ registered e-commerce members. The platform functions as a national switch enabling interoperability and standardization across Myanmar's financial landscape.

Differentiator

Problem solved

Functional benefit

Products and services

• ATM Service Automated Teller Machine service enabling MPU cardholders to withdraw cash up to 500,000 kyats per transaction (weekly max 2,000,000 kyats), with balance inquiry and international card support (JCB, UPI).
• POS (Point of Sale) Service Card payment acceptance service at merchant locations with MPU-logo branding, supporting MPU, JCB, and UPI co-brand cards in Myanmar Kyats (and USD for international cards). Daily transaction limits of 1,000-50,000 kyats at 39,000+ POS terminals.
• E-Commerce Service Online payment processing service launched February 13, 2015, enabling MPU cardholders to purchase services and products online, pay taxes, and conduct e-commerce transactions. Registration approved within 3-5 business days.
• IBFT (Inter Bank Fund Transfer) Inter-bank fund transfer service enabling MPU cardholders to transfer money between different banks through ATM machines. Fee is 200 kyats flat plus 0.05% of transfer amount, with daily limit of 10,000,000 kyats.
• MPU Credit Card Credit card issued by MPU member banks, accepted across the MPU network at ATMs, POS terminals, and supported online transactions. Available as single card or co-brand variants (MPU-JCB, MPU-UPI).
• MPU Debit Card Domestic debit card issued by banks in Myanmar, accepted on the MPU network for ATM withdrawals, POS payments, and supported online transactions. Available as single card or co-brand variants.
• MPU Prepaid Card Prepaid card issued by member banks on the MPU network, allowing users to load funds and use at ATMs, POS terminals, and for online transactions up to the loaded amount.
• MPU-JCB Co-brand Card Co-brand card partnership with JCB (Japanese Credit Bureau) enabling domestic and international acceptance on MPU network. Used for payments in Myanmar Kyats or USD at ATMs and POS terminals.
• MPU-UPI Co-brand Card Co-brand card partnership with UnionPay International (UPI) enabling domestic and international acceptance on the MPU network. Available from AGD Bank, UAB Bank, MOB Bank, and MAB Bank; accepted at MPU ATMs and POS terminals.

Quantifiable outcome

• Daily transaction volume of 158,000+ transactions across all channels
• +2 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Four partnerships are on record, tiered strategic and core.

• Network for Electronic Transfer Singapore Pte.Ltd (NETS)strategicTechnology or Integration · 26 April 2022MOU signing ceremony held on April 26 at Sedona Hotel Yangon for technology cooperation partnership between MPU and NETS.
• RITZ Cyber SecuritystrategicStrategic or Co-development Partner · 8 January 2020Partnership for cybersecurity assessment of online payment systems. MOU signing held on January 8, 2020 at Pan Pacific Yangon, with MPU CEO U Ye Lin Thant and RITZ Managing Director.
• UnionPay International (UPI)coreTechnology or Integration · 1 January 2013In early 2013, MPU signed an agreement with UnionPay International to use UPI cards issued by national banks and cooperate with UPI for acquiring activities. This partnership enables acceptance of UPI cards on the MPU network.
• JCB (Japanese Credit Bureau)coreTechnology or Integration · 1 January 2013In mid-2013, MPU partnered with JCB to accept their cards on the MPU network. This enables international card acceptance alongside domestic MPU cards.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• UnionPay International: UnionPay International is one of MPU's strategic partners and the dominant international card network with significant Asian market presence. While not a direct switch peer, it is comparable as a card network operator serving cross-border payments in the same geographies.
• Visa Inc. Visa is a global card network that competes in the same merchant acceptance and card payment space as MPU. Visa acquired Artajasa (Indonesia's switch), demonstrating the strategic interest in national switch infrastructure in MPU's peer set.
• Mastercard: Mastercard is a global card network operator serving consumers, merchants, and banks with cross-border payment services. It is broadly comparable to MPU in providing card-based payment acceptance, though operating globally rather than as a domestic switch.
• JCB Co., Ltd. JCB is one of MPU's co-brand card partners and operates as an international card network with strong Asia-Pacific presence. It is comparable as a card scheme serving cross-border consumer and merchant payments in similar markets.
• National Payments Corporation of India (NPCI): NPCI operates India's national payment switch infrastructure (RuPay, UPI, IMPS), the closest direct functional analog to MPU as a domestic payment switch operator. It is significantly larger in scale but serves the same fundamental role of connecting banks and merchants under central bank oversight.

Direct peers

• Artajasa Pembayaran Elektronis: Artajasa operated Indonesia's national payment switch (ATM Bersama) before being acquired by Visa. It served as a directly comparable national interbank switch operator in a larger Southeast Asian market, similar in structure to MPU's role in Myanmar.
• MEPS (Malaysian Electronic Payment System): MEPS operated Malaysia's national interbank ATM and fund transfer switch before being integrated into Bank Negara Malaysia's operations. It is a direct functional peer as a national interbank switch serving consumer banking transactions.
• NAPAS (Vietnam National Payment Switch): NAPAS operates Vietnam's national payment switch connecting banks for ATM, POS, and interbank transfers. As a regional peer operating a similar national switch model under central bank guidance, NAPAS is directly comparable to MPU's business model.
• NETS (Network for Electronic Transfers Singapore): NETS operates Singapore's national payment switch for ATM, POS, and electronic transfers. MPU and NETS signed a technology cooperation MOU in April 2022, making NETS the most direct functional peer given overlapping services and ASEAN geographic context.
• BancNet Inc. BancNet is the Philippines' national ATM and electronic payments network connecting member banks. It is directly comparable to MPU in operating as a consortium-owned interbank switch providing ATM, POS, and fund transfer services domestically.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@myanmarpaymentunionMPU
• Facebookfacebook.com/MyanmarPaymentUnion?mibextid=ZbWKwL
• LinkedInlinkedin.com/company/myanmar-payment-union-mpu

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Myanmar Payment Union