Home Insider Insider News AGD Bank Accepts EMV-based UnionPay Chip Card Transactions

AGD Bank Accepts EMV-based UnionPay Chip Card Transactions

Asia Green Development Bank (AGD) accepts EMV-based UnionPay chip card transactions in all its ATMs. EMV is a technical specification that facilitates interoperability between chip-based cards and point-of-sale devices or ATMs. The key objectives of EMV are to reduce counterfeiting and fraudulent transactions and to standardize all payment solutions on a singular specification recognized globally.

AGD Bank, UnionPay International (UPI), Diebold Nixdorf and its local partners, ACE Data Systems, and Myanmar Golden Rock are working in collaboration to provide this service that promises a safer and easier system for UnionPay cardholders. “AGD aims to provide enhanced customer experiences in the most secure environment for our customers. By implementing the global EMV standard, we are achieving a significant leap forward in protecting our cardholders against fraud,” said Htoo Htet Tay Za, Managing Director of Asia Green Development Bank. “We are proud to partner with AGD Bank and Diebold Nixdorf, to provide the first UnionPay EMVcertified ATMs for cardholders in the country. As Myanmar’s financial services infrastructure develops, we are committed to enabling safe and secure card-based solutions for businesses and consumers,” said Wenhui Yang, General Manager of UPI Southeast Asia. Piers Leach, Myanmar Country Manager for Diebold Nixdorf said, “We are excited to work with AGD and our local partners to continually develop and implement solutions that ultimately ensure smoother, safer and more convenient transactions for that benefit end customers.”

“We are delighted to partner with Diebold Nixdorf, Myanmar Golden Rock, AGD Bank and UnionPay International to implement the EMV solution,” said Zaw Moe Thant, Chief Executive Officer of ACE Data Systems Ltd. “We have felt honored to work with AGD Bank since day one and are proud to be a part of this big project. We take pride in their accomplishments and hope to be a part of many projects to come in the future,” said Alvin Law, Managing Director of MGR.”