You are here: Home » News-ANI » Business
Business Standard

Japan helps to accelerate economic activity in ASEAN

ANI  |  Myanmar/ Malaysia 

Myanmar has become a new investment destination. The rapid economic growth and rise in per capita income in the country has generated a demand for payments through credit cards.

In order to construct a cashless electronic retail payment environment, Myanmar Payment Union (MPU) was established by the Central Bank of Myanmar with 17 local banks to promote the acceptance and issuance of payment cards in the country.

MPU started the first ATM card payment system interconnecting through the local banks, with issuing the MPU Debit card in 2012.

JCB, a major global payment brand based in Japan, has partnered with MPU and promotes the development of payment infrastructure at a rapid pace.

However, the challenges still remain in social infrastructures such as stable electricity and tele-communication.

"In cooperation with MPU, we started JCB card payment service in 2013 across the ATM and merchants through Myanmar. Since then, JCB held a technical workshop for MPU in February 2014 with NTT Data under the assistance by Japanese Ministry of Economy, Trade and Industry. We provided workshop of system and security regarding to payment card transaction," said Yuji Matsushita of JCB International Co., Ltd.

Earlier this month, the MPU and JCB signed an MOU for issuance of JCB MPU co-brand debit and credit cards in Myanmar through the member banks of MPU.

MPU now plans to start the JCB-MPU co-brand card to be issued to the Myanmar citizens in 2015.

"JCB is the world class payment organization, we can have a lot of assistance from JCB in terms of technically, the process, and in terms of business," said Zaw Lin Htut, the CEO of Myanmar Payment Union (MPU).

With this MOU, JCB commits to provide world class, responsive and high-quality service and products to the people of Myanmar in cooperation with MPU.

JCB sponsors the sports and education project for children under the name of "Myanmar Sports Project" organized by the Nippon Foundation in 2014.

"JCB continues to contribute to build and develop Myanmar's banking infrastructure with MPU, by providing our know-hows of payment card gained by our experience," said Yuji Matsushita of JCB International Co. Ltd.

Cyberjaya, an emerging Information and Communications Technology town, aspires to be known as the Silicon Valley of Malaysia.

Cyberjaya, located 50 km south of Kuala Lumpur, forms a key part of the MSC Malaysia.

MSC Malaysia, formerly known as the Multimedia Super Corridor, is a Special Economic Zone in the country. MSC is Malaysia's national ICT initiative designed to attract world-class technology companies, while grooming the local ICT industry.

NTT Communications incorporated NTT MSC in Malaysia in 1997 as a wholly owned subsidiary with a capital of 140 million Malaysian Ringgit.

NTT MSC constructed the fourth data center CBJ4 - Cyberjaya 4 Data Center this year. Its advanced design enables NTT to provide new solutions for disaster recovery, managed services and professional training.

"Companies entrust its crucial system to our Data Center in a global perspective, and the number is increasing in Malaysia as well. In order to enhance the security and reliability of their system, our customers are positively utilizing the Data Centers in Malaysia especially with the benefit from lower electricity and competitive labor costs comparing to the neighboring countries such as Singapore," said Ken Deguchi, President CEO, NTT MSC Sdn. Bhd.

CBJ4 features redundant systems for commercial and uninterruptible power supply, cooling, power generator and power distribution, plus robust systems for fire and flood prevention.

The facility's twenty-four office environment enables a wide range of process outsourcing.

"We have a scene to the business relationship that NTT has proven with its world class Data Center facilities, global telecommunications with global coverage and support and services. That meets our business needs and ability to support our enterprise group," said Chow Sai Kay, Director, Amway IT Service Sdn. Bhd.

NTT has developed the Data Centers that has the same quality as seen in NTT MSC Malaysia through Asian countries as well in India, Indonesia, Thailand, Vietnam, China, Singapore and Hong Kong.

NTT leads MSC Malaysia, which accelerates the country's objectives to transform into a modern state by the year 2020, towards the age of information and knowledge based society.

First Published: Mon, November 24 2014. 16:29 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU