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MyanmarPay
MMQR (Myanmar Quick Response), branded MyanmarPay, is the national standardised QR code payment system in Myanmar. Introduced by the Central Bank of Myanmar (CBM), MMQR aims to unify and streamline the country's digital payment landscape, and to reduce reliance on cash transactions. It facilitates interoperability between various banks and mobile financial service providers, enabling seamless and secure payments through a single QR code, powered by the EMV, EMVCo standard. History Prior to the introduction of MMQR, Myanmar's digital payment ecosystem was fragmented, with different banks and mobile wallets operating on their own proprietary QR code systems. This often required users to maintain multiple accounts and businesses to manage various payment acceptance methods, leading to inconvenience and inefficiency. The Central Bank of Myanmar recognized the need for a unified national standard to modernise the country's financial system and align it with international practices. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ASEAN Integrated QR Code Payment System
The ASEAN Integrated QR Code Payment System is a 2023 initiative by ASEAN for an integrated QR code payment systems. It was part of ASEAN's Local Currency Transaction (LCT) Framework. The initiative was aimed at using local currencies and reduced dependence on certain currencies, particularly the US dollar, in cross-border transaction among ASEAN countries. History At the 10th joint meeting of the ASEAN Finance Ministers and Central Bank Governors, held in Jakarta Indonesia on the 25 August 2023, the group committed to integrating each countries QR Payment systems as part of the Financial Integration and Liberalisation agenda. As of 2024, the following QR Payment systems were or would soon be in the integrated payment system. References {{reflist Payment systems Contactless payments Mobile payments ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Myanmar
The Central Bank of Myanmar (; ; abbreviated CBM) is the central bank of Myanmar (formerly Burma). Organisation Its headquarter is located in Nay Pyi Taw, and has branches in Yangon and Mandalay. History The Central Bank of Myanmar was founded as the Union Bank of Burma on 3 April 1948 by the Union Bank of Burma Act, 1947 and took over the functions of the Rangoon branches of the Reserve Bank of India. The Union Bank of Burma was opened at the corner of Merchant Road and Sule Pagoda Road and had the sole right to issue currency for the country. In 2013, the Central Bank of Myanmar became an autonomous and independent regulatory body by the Central Bank of Myanmar Law, which was enacted by the Myanmar parliament. In 2019, the Central Bank began working on a national standard QR payment system. Dubbed MyanmarPay (MMQR), the standard was launched in February 2025. During the 2021 Myanmar coup d'état, military authorities removed the central bank's civilian-appointed lea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Myanmar
Myanmar, officially the Republic of the Union of Myanmar; and also referred to as Burma (the official English name until 1989), is a country in northwest Southeast Asia. It is the largest country by area in Mainland Southeast Asia and has a population of about 55 million. It is bordered by India and Bangladesh to its northwest, China to its northeast, Laos and Thailand to its east and southeast, and the Andaman Sea and the Bay of Bengal to its south and southwest. The country's capital city is Naypyidaw, and its largest city is Yangon (formerly Rangoon). Early civilisations in the area included the Tibeto-Burman-speaking Pyu city-states in Upper Myanmar and the Mon kingdoms in Lower Myanmar. In the 9th century, the Bamar people entered the upper Irrawaddy River, Irrawaddy valley, and following the establishment of the Pagan Kingdom in the 1050s, the Burmese language and Culture of Myanmar, culture and Buddhism in Myanmar, Theravada Buddhism slowly became dominant in the co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Myanmar
The economy of Myanmar is the seventh largest in Southeast Asia. After the 2011–2015 Myanmar political reforms, return of civilian rule in 2011, the new government launched Economic liberalization in Myanmar, large-scale reforms, focused initially on the political system to restore peace and achieve national unity and moving quickly to an economic and social reform program. Current economic statistics were a huge decline from the economic statistics of Myanmar in the fiscal year of 2020, in which Myanmar’s nominal GDP was $81.26 billion and its purchasing power adjusted GDP was $279.14 billion. Myanmar has faced an economic crisis since the 2021 Myanmar coup d'état, 2021 coup d'état. According to International Monetary Fund (IMF) Myanmar GDP per capita in 2024 is estimated to reach $1.179 History Classical era Burma has been the main trade route between China and India since 100 BC. The Mon Kingdom of lower Burma served as important trading centre in the Bay of Bengal. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Payments
An e-commerce payment system (or an electronic payment system) facilitates the acceptance of electronic payment for offline transfer, also known as a subcomponent of electronic data interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking. Credit cards remain the most common form of payment for e-commerce transactions. As of 2008, in North America, almost 90% of online retail transactions were made with this payment type.Turban, E. King, D. McKay, J. Marshall, P. Lee, J & Vielhand, D. (2008). Electronic Commerce 2008: A Managerial Perspective. London: Pearson Education Ltd. p.550 It is difficult for an online retailer to operate without supporting credit and debit cards due to their widespread use. Online merchants must comply with stringent rules stipulated by the credit and debit card issuers (e.g. Visa and Mastercard) in accordance with a bank and financial regulation in the countries ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barcodes
A barcode or bar code is a method of representing data in a visual, Machine-readable data, machine-readable form. Initially, barcodes represented data by varying the widths, spacings and sizes of parallel lines. These barcodes, now commonly referred to as linear or one-dimensional (1D), can be scanned by special optical scanners, called barcode readers, of which there are several types. Later, two-dimensional (2D) variants were developed, using rectangles, dots, hexagons and other patterns, called ''2D barcodes'' or ''matrix codes'', although they do not use bars as such. Both can be read using purpose-built 2D optical scanners, which exist in a few different forms. Matrix codes can also be read by a digital camera connected to a microcomputer running software that takes a photographic image of the barcode and analyzes the image to deconstruct and decode the code. A mobile device with a built-in camera, such as a smartphone, can function as the latter type of barcode reader usin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
