The Burmese Co-Operative Bank Limited (CB Bank) recently announced that they will double the number of their Money in physical form such as banknotes and coins. More 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 From the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More 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 See Payment instrument. More. 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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