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 MISCELLANEOUS NEWS
Updated on July 10, 2018 From Myanmar Business Today

Visa’s FIFA Campaign Promotes Adoption of Electronic Payments in Myanmar

Yangon — Visa, the official payment services partner for FIFA, launched the ultimate football program to enhance the 2018 FIFA World Cup Russia™ experience for Visa account holders.
        From July 3 – 8, at Myanmar Plaza, Visa teamed up with six partnering banks and merchants to offer fans new ways to immerse themselves into the game and enhance their experience through football-themed activities.
        Myanmar is a cash based economy that is just starting to get its feet wet with electronic financial services. This was highlighted in a recent study based on Financial Education for Sustainable Growth Study, where 99% of respondents surveyed indicated they heavily rely on cash.
        There are locations where credit cards can be used to make transactions in Myanmar, but how often these electronic point of sales (EPOS) devices are used is uncertain. Furthermore the total number of credit cards in use within Myanmar is also unknown, but it’s a good bet that most of them are utilized by foreigners.
        The Financial Education for Sustainable Growth Study also showed that there is high interest in getting electronic payment cards. 7% of those surveyed said they intended to get credit cards and debit cards, and 2% would like to get a pre-paid bank card.
        With that in mind, Arturo Planell, Country Manager of Visa Myanmar said the campaign presents an ideal opportunity to introduce and connect Myanmar’s football fans with a new mode of payment.
        “Visa is committed to enhancing the FIFA World Cup experience for passionate football fans in Myanmar through a unique integrated marketing campaign that celebrates ‘the beautiful game’. We are delighted to partner with all six Visa credit card issuing banks and merchants to offer a unique program that will lead to further adoption of electronic payments in the country.”
        Fans were able to apply for credit cards on-site and immediately use their new mode of payment to reap benefits and discounts.
        With a minimum of 50,000 MMK spend on Visa cards at Myanmar Plaza, Visa cardholders stand a chance to win free FIFA World Cup official merchandise, such as umbrellas, shirts and bags during this six-day extravaganza. In addition, Visa cardholders were eligible for discounts at selected stores in Myanmar Plaza when paying with their Visa cards.
        Furthermore, eight finalists will compete in the grand finale of Visa’s Facebook football contest where someone will be crowned “Myanmar’s Biggest Football Fan” taking home a 2,000,000 MMK Visa prepaid card. The campaign ran from May 4 to June 22, where fans answered football-related questions with qualifying fans selected to participate in the grand finale.
        “Myanmar consumers have expressed a high interest in exploring new modes of payment. We believe our collective efforts to drive education will help consumers in Myanmar to move away from cash to digital payments, which will provide enormous advantages to Myanmar’s consumers, governments, businesses and the economy,” concluded Arturo.
        As a leading global payment processing company, Visa looks to add value to clients via various partnerships or campaigns. Stay tuned for upcoming events.

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