Bangkok-Taiwan's multinational hardware and electronics company Acer Inc. is working with Excel Myanmar to introduce a cashless payment system on all public buses in Myanmar's commercial center of Yangon.
Excel KC Myanmar, a partnership between Acer and Excel Myanmar, has won a government contract to implement a card-based, cashless payment system on all Yangon Bus Service (YBS) buses this year, news website The Irrawaddy reported on Jan. 11.
A total of 14 companies tendered bids for the contract, with the assessment board selecting AnyPay Payment Services, Asia Stamar Transport Intelligent and Excel KC Myanmar as the finalists earlier this month, the report said.
The ultimate decision to go with Excel KC Myanmar had to do with Acer being able to "provide its own technology and machines," the report said, citing U Chit Tun Pe, one of the board members.
Acer subsidiary Acer ITS is uniquely focused on developing intelligent transportation system solutions and has up to 70 percent of the market share in Taiwan.
U Chit Tun Pe said he expected a tentative agreement to be signed later this month for the 20 billion kyat (US$14.78 million) investment project that will install the system on the nearly 5,000 YBS buses that serve 3 million to 5 million commuters each day.
Also reporting the story, the Myanmar Times said that "while the card payment system is not new in international countries, it is the first time Myanmar is attempting to go cashless."
Source: Overseas Community Affairs Council