National Payment System Governing Committee holds coord meeting

 

The National Payment System Governing Committee held its first coordination meeting in Nay Pyi Taw yesterday.

During the meeting, Committee Chairperson and Central Bank of Myanmar Governor Daw Than Than Swe said the infrastructure, such as the CBM-NET System, MPU, and MyanmarPay (MMQR), has been successfully established to support large sum payments, card payments, and retail payments. In order to promote wider use of digital payments and to make such payments easier and faster, payment service providers are being systematically reviewed and licensed, and the necessary rules and directives are also issued and implemented accordingly.

Moreover, the discussion will be made to draft the National Payment System Strategy (2026-2030) in line with the implementation processes of the e-Government system and the strategic objectives set out in the Myanmar Digital Economy Roadmap 2030. Then, it will be connected with ASEAN regions for payment, and she highlighted the transitioning of government payments to electronic methods wherever possible, monitoring the integration of payments with e-commerce platforms and ensuring tax revenues are collected in accordance with prescribed regulations, reducing cash usage while expanding digital payment services, and supervising and regulating unauthorized operations under the law.

She continued that to prevent money laundering and the financing of terrorism, the e-KYC VMS system will be developed to directly link with the e-ID system of the Ministry of Immigration and Population and the SIM-Registration system of the Ministry of Transport and Communications to ensure the accuracy of information for bank accounts and mobile banking.

The attendees discussed the digitalization system, further cooperation in work plans linked with the digital payment system and tasks of relevant departments in drafting the National Payment System Strategy (2026-2030).

MNA/KTZH

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