FPT builds financial switching system for Myanmar
VOV.VN - The Myanmar Payment Union (MPU) has signed a memorandum of understanding (MoU) with FPT Group and the National Payment Corporation of Vietnam (NAPAS) to implement a project on building a financial switching system for Myanmar.
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According to the MoU, FPT and MPU will cooperate under a profit sharing model. FPT will invest and implement a financial switching system for Myanmar within one year since August 2016. FPT will let the MPU lease the system for 10 years and make profits from collecting fees on e-transactions.
The FPT Information System (FPT IS) will directly implement the project. First, 20 out of 40 financial institutions in Myanmar will use the system and the figure will increase in the time ahead.
Pham Minh Tuan, general director of FPT IS said the project will open up bright prospects for finance and banking cooperation between Vietnam and Myanmar.
FPT and NAPAS is expected to provide similar services to other developing nations in the region in the coming time.
