Moscow, Russia and Tokyo, Japan, May 19, 2017 – (ACN Newswire) – JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced the signing of a license agreement with Sberbank of Russia, the largest bank in Russia, the Commonwealth of Independent States (CIS) and Central and Eastern Europe. Sberbank agreed to start accepting JCB cards on the Sberbank nationwide POS terminal network in 2018.
Sberbank has the largest POS terminal network in the country. JCBI started card issuing business with several local banks in Russia in 2015 and the cardmember base has been expanding. The partnership with Sberbank of Russia will ensure that the JCB cardmembers enjoy more convenience and increase JCB brand awareness and presence in the market.
Kimihisa Imada, President and COO of JCBI, said: “We are sure this arrangement will support our objective as a very active player in the payment industry in Russia. We believe our collaboration will contribute to the growth of card payments and provide greater convenience to JCB cardmembers both in Russia and from all over the world.”
JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 32 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 23 countries and territories, with more than 100 million card members. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide.
Note: Statistics in About JCB are as of September 2016.
Source: ACN Newswire