Partnership with world's largest public bank expanding JCB brand presence
Tokyo, May 16, 2012 - (ACN Newswire) - JCB, the only international credit card brand based in Japan, and its international subsidiary JCB International (JCBI) today announced that Industrial and Commercial Bank of China Limited (ICBC) will start issuing JCB cards today.
ICBC is one of the largest public banks in the world in terms of total assets and has issued more credit cards than any other bank in China. JCBI and ICBC have had an acquiring business partnership since 1991 and signed a license agreement for JCB card issuing in 2008. Now ICBC will be issuing its flagship ICBC Card with the JCB brand and providing customers with JCB travel related services such as the JCB Plaza and JCB Plaza Lounge in addtiion to ICBC's own loyalty program and other functions and services. Customers may select billing of their international spending on the card in US dollars or in Japanese yen, an option that is especially convenient for those traveling frequently to Japan.
Since 1982, JCB and JCBI have been expanding JCB card acceptance in China to increase convenience for JCB cardmembers. Currently JCB has alliances with thirteen partner banks and financial institutions in China for merchant acquiring with over approximately 100,000 merchants accepting JCB cards. JCB card issuing to consumers in China has also been expanding since 2005 to meet increasing need in the market for international credit cards driven by the country's strong economic growth. In addition to ICBC, Bank of China, Bank of Shanghai, China Everbright Bank, China Merchants Bank, Shanghai Pudong Development Bank, China Minsheng Banking Corporation, China Construction Bank and Ping An Bank currently issue JCB cards, and the cardmember base has been expanding in the country and has surpassed 5 million earlier this year.
By issuing a "ICBC JCB Card", ICBC will be able to provide a stronger product and more high-quality services to customers, while JCB will expand its presence in China through the bank's national network and customer base.
JCB is a major global payment brand and leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding overseas in 1981. Its acceptance network includes 20 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 16 countries and territories, with more than 71 million cardmembers. As part of its international growth strategy, JCB has formed alliances with more than 350 leading banks and financial institutions globally to increase merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, visit: www.jcbcorporate.com/english .
Note: JCB statistics included in About JCB are as of the end of September 2011.
JCB International Co., Ltd.Ayako TanakaCorporate Planning Department+81-3-5778-8390
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