Issuing & Acquiring -

JCB extends international issuing capabilities

JCB International (JCBI) and Caixa Economica Federal (CAIXA), the largest public sector bank in Latin America, announce the signing of an agreement for the issuing of JCB cards in Brazil aiming to start in April 2014. Starting with credit cards for a total of 5 million accounts in the next 3 years, CAIXA plans to add debit and prepaid JCB brand cards in the near future.

JCB is a global payment brand with over 24 million merchants and 80 million card jcbmembers around the world. In Brazil, with a partnership with Cielo, Brazil’s largest credit card acquirer, JCB card is now accepted at all of the more than 1.2 million Cielo merchants, representing almost every credit card accepting merchant in Brazil.

“Brazil has become the focus of world attention by hosting the 2014 FIFA World Cup and the 2016 Olympic Games, and we anticipate the payment market to grow in this country,” says Koremitsu Sannomiya, president & COO of JCBI. “We are taking this opportunity to increase JCB brand awareness in the region as a whole by providing our unique value to our new partner, CAIXA, which has strong appeal for the middle-income class that continues to expand.”

In similar news, Singapore Banking Corporation (SBC Bank), a leading commercial bank in the Kingdom of Cambodia has started JCB merchant acquiring operations in the Cambodia market and has signed a memorandum of understanding for JCB card issuing. SBC Bank will phase in JCB card acceptance at all SBC Bank merchants in Cambodia by the end of 2013 and plans to issue JCB card in the near future.

Mr. Andy Kun, executive chairman of SBC Bank, said, “The collaboration with JCBl marks another milestone for SBC Bank in expanding its card business and this joyous occasion coincides with our bank’s 20th anniversary of establishment. The acceptance of JCB cards will open up a world of financial freedom to JCB card members visiting Cambodia for business or pleasure whereby JCB card members can use their cards at over 500 SBC Bank merchants as well as access over 100 SBC Bank ATMs by the end of 2013.”

“SBC Bank is also proud to be the first JCB eCommerce acquirer in Cambodia to provide online payment gateway service which would benefit Cambodia’s growing business and tourism sectors. Such payment channel will enable merchants to accept online payments in fulfilling various need-based services such as reservations, booking, ticketing, shipping and bill payments in a secured manner,” Kun continued.

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