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Dramatic ATM network increase in Myanmar

Categories : Cash is efficient, Cash is the most widely used payment instrument
February 9, 2017
Tags : Asia, ATM, ATMs, Availability, Unbanked, Usage
Diebold Nixdorf will deploy 500 new ATMs through the Burmese Co-Operative Bank Limited with cash recycling functionalities and integrated cardless withdrawal technology.
Communication Team / Equipo de Comunicación

The Burmese Co-Operative Bank Limited (CB Bank) recently announced that they will double the number of their cash machines with the deployment of 500 new ATMs and cash recyclers across the country. The contract was awarded to Diebold Nixdorf, a company created in 2016 from the merger of two leading banking services providers – Diebold and Wincor Nixdorf. The company had previously helped the CB Bank integrate EMV chip card technology in all their ATMs and obtain the technical standard EMV certification with VISA and MasterCard.

The new ATMs will also feature a sophisticated technology allowing customers to withdraw money via their smartphone without a bank card. Users will receive a one-time PIN code on their phone to activate the withdrawal, which can also be used to transfer money to unbanked relatives. The rollout should be completed by the end of 2017.

The demand for banknotes is especially high in Myanmar where cash is by far the main payment method. Many people living in remote areas will benefit from the expansion of the bank’s ATM fleet, which already represents one of the largest networks in the country.

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