Taiwanese Acer recently announced that the company has succeeded in securing the tender jointly with Excel KC Myanmar to set up a cashless payment system for public transportation in Yangon, Myanmar, the Economic Daily News reported on January 19. The tender is worth approximately NT$430 million (US$14.8 million; NT$1 = US$29.02). The system called YPS (Yangon Payment Service) will be served at the city's public transport system and will be tested on 5,000 buses of 100 lines, water buses, and trains. In addition, the bus lines now cover approximately 2 million commuters in Yangon. Pursuant to the five-year agreement, Acer and Excel KC Myanmar will jointly provide YPS cards, and install e-payment machines, as well as the corresponding technology and solution. The Yangon Region's government stated that the service will be available as early as February 2018 and the bus will still accept cash in the initial months following the new system setup. Other than Acer and Excel KC Myanmar, the other two tender winners are AnyPay Payment and Asia Stamar Transport Intelligence.