YANGON, April 9 (Xinhua) -- Myanmar's central bank has instructed domestic banks to halve the monthly maximum amount limits of international prepaid cards, international credit cards and international co-brand cards.
According to the bank's instruction on Friday, monthly maximum amount limits per international prepaid card such as MasterCard, Visa and UPI prepaid cards issued by domestic banks must change from 5,000 U.S. dollars to 2,500 U.S. dollars.
Meanwhile, the monthly maximum amount limits for international credit cards such as MasterCard, Visa, JCB and UPI credit cards and international co-brand cards of MPU-UPI, MPU-JCB cards will be reduced from 5 million kyats (over 2,702.7 U.S. dollars) to 2.5 million kyats (over 1,351.3 U.S. dollars), the instruction said.
The bank granted international cards issued in Myanmar for citizens to facilitate retail payments and reduce the hassle of carrying money when traveling overseas. ■