Category: Cards/Payments

JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., and PJSCB Orient Finans are pleased to announce the start of JCB merchant acquiring operations across Uzbekistan. PJSCB Orient Finans has become the first bank in Uzbekistan to launch merchant acquiring operations for JCB, Japan’s only international payment brand.

Private Joint-Stock Commercial Bank “Orient Finans” (Orient Finans Bank) was founded in 2010 and it is a full-fledged universal financial institution in the banking services market in the Republic of Uzbekistan. The reliability of the bank’s financial position is confirmed by the credit ratings of international and national rating agencies. Orient Finans Bank will start the acceptance of JCB to expand the possibilities of servicing the international payment cards.

JCB is one of the leading international payment brands, founded in Japan in 1961. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide.

After implementing merchant acquiring operations in autumn 2020, JCB cardholders traveling to Uzbekistan will be able to make payments comfortably at merchants using their JCB cards, as well as withdraw cash using the Bank’s ATM network throughout the Republic of Uzbekistan.

This partnership will also allow merchants in the Orient Finans Bank acquiring network to gain new sales opportunities with the global financial brand through its traditional merchant acquiring and e-commerce transactions.

About JCB

JCB is a major global payment brand and a leading credit 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 over 34 million merchants and over a million cash advance locations in the world. JCB cards are now issued in 24 countries and territories, with more than 140 million cardmembers. 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 cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information: www.global.jcb/en/

About PJSCB “Orient Finans”.

Private Joint-Stock Commercial Bank “Orient Finans” was founded in 2010 and is a full-fledged universal financial institution in the banking services market of the Republic of Uzbekistan. The bank actively cooperates with major financial institutions of the world. The presence of correspondent accounts in the largest international banks allows clients to quickly carry out international transactions and documentary operations.

Contacts
JCB
Kumiko Kida, Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@jcb.co.jp

PJSCB “Orient Finans”.
Gavhar Shamshiddinova
Marketing Department
Tel: +99 871-205-55-55
Email: g.shamshiddinova@ofb.uz

Vietnam Bank for Agriculture and Rural Development (Agribank), one of the leading commercial banks in Vietnam, and JCB International Co, Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced the launch of Agribank JCB Ultimate Credit and Debit Cards today.

Ultimate Credit Card is the highest line of JCB for individual customers in Vietnam with special promotion and premium privileges. Agribank JCB Ultimate Card holders will enjoy global travel insurance, one special and complimentary dish at selected high-end Japanese restaurants in Vietnam, up to 100% off green fee at 10 luxury golf courses and one free stay at FLC Golf Resorts group and free access to over 70 international airport lounges in Vietnam, Thailand, Singapore, Malaysia, Korea, Japan, Hong Kong, China, United Kingdom and Hawaii.

Agribank JCB Debit Card is also launched at the same time with very attractive card design, the lucky cat symbol from Japan. The cardholders also enjoy various benefits such as withdrawal insurance at ATM, special discounts at more than 100 high-end restaurants, free access to JCB Plaza overseas customer service centers.

Furthermore, the holders of Agribank JCB Card can access JCB acceptance network globally with about 34 million merchants and over a million ATMs in the world, enjoy special privileges at selected merchants and customer service at JCB Plaza around the world.

About Agribank

Vietnam Bank for Agriculture and Rural Development (Agribank) is the only 100% state-owned commercial bank in Vietnam. Throughout its development, Agribank has always been the largest bank in Vietnam in terms of total assets, operating network and customer base.

Throughout 32 years of development, Agribank has always affirmed its position and role as one of the leading commercial banks in Vietnam. For many consecutive years, Agribank has been in the Top 10 largest enterprises in Vietnam and won many awards from international organizations.

Agribank is currently focusing on effectively implementing the Business Strategy for the 2016-2020 period, with a vision to 2030, successfully implementing the phase two restructuring associated with the task of speeding up the implementation of the Agribank equitization plan under the Prime Minister’s Decision, maintaining its leading position in the agricultural and rural financial market, making positive contributions to promoting socio-economic development of the country. www.agribank.com.vn/en/ve-agribank.

About JCB

JCB is a major global payment brand and a leading credit 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 over 34 million merchants and over a million cash advance locations in the world. JCB cards are now issued in 24 countries and territories, with more than 140 million cardmembers.

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 cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information: www.global.jcb/en/

Contacts
JCB Co., Ltd.
Kumiko Kida, Ayaka Nakajima
Corporate Communications Department
Tel: +81-3-5778-8353
E-Mail: jcb-pr@jcb.co.jp

Saudi Payments, Saudi Arabian Monetary Authority (SAMA) subsidiary, and the operator of national payment network (mada), has partnered with JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co. Ltd., to enable the acceptance of JCB cards in the Kingdom as part of its policy in opening the way for global payment companies and systems to enter the local market in order to support its strategy to enrich the payments environment in the Kingdom and provide modern payment methods in a way that reduces cash and raising the level of competition in this sector, in addition to its consistency with the goals of Vision 2030 in serving religious visitors and tourists and providing them with various payment methods.

This partnership will enable mada network to accept JCB payments through the platform. This will facilitate local acquiring banks to accept JCB cards through their network of Point of Sale Terminals and ATM terminals deployed throughout Saudi Arabia and also provide greater convenience for JCB’s growing cardholders in Islamic markets such as Indonesia.

As part of its commitment and confidence in the Kingdom’s ever-expanding payments ecosystem, JCB will also be opening an office in Riyadh to develop and enhance its presence in the Saudi Arabian market.

“Saudi Arabia is the most significant market for JCB to expand the issuance of JCB cards in the Islamic region. Saudi Arabia is one of the most important travel destination for our cardholders. With the Kingdom’s enhanced Vision 2030 strategy and the ever-increasing close ties between Saudi Arabia and Japan, I am delighted that we have entered into this partnership with Saudi Payments for the acceptance of JCB cards,” said Mr. Yoshiki Kaneko, President and COO of JCBI. “Over the coming months we will be announcing partnerships with local banks to expand our acceptance infrastructure in Saudi Arabia, to cater for both the business and touristic needs of our cardholders.”

Ziad Al Yousef, Managing Director of Saudi Payments said: “This partnership is vital step to enhance the digital payment infrastructure in the Kingdom, by providing more options for customers. At the same time, our partnership with JCB aims to enable mada network to accept JCB cards, which will be used through sale points. Based on this step, we seek to transform our society into a less cash dependent.”

About Saudi Payments

Saudi Payments, a wholly owned subsidiary of the Saudi Arabian Monetary Authority, was founded to operate and develop all major national payment systems.

Since its establishment in 1991 under the name of the “General Department of Payment Systems” at the Monetary Authority, the real launch of Saudi Payments as a Company came in 2018 has played a vital role in enabling the public and private sectors to connect with domestic and international payment services, helping to develop the Kingdom’s payment infrastructure.

Saudi Payments provides fast, flexible, and safe electronic payment services at low cost, through mada, Sadad, Esal and Sarie systems, enhancing the national electronic payment infrastructure and reducing cash transactions.

Saudi Payments supports the government’s Financial Sector Development Program, a part of the Kingdom’s Vision 2030 Program. Saudi Payments operates to international standards, connecting local and international service providers with payment networks, reducing the need for cash payments.

About JCB

JCB is a global payment brand and a leading credit 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 34 million merchants as well as cash advance locations around the world. JCB cards are now issued in 24 countries and territories, with more than 140 million cardmembers. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. www.global.jcb/en/

July 21, 2020 – Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, and JCB International Co. Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., enter into a regional agreement to provide online merchants and shoppers with enhanced payment options. Through this collaboration, the two homegrown Asian brands will jointly provide quality e-commerce and payments services for the Southeast Asian market.

The partnership will launch in July 2020 in Indonesia, Thailand and Vietnam, followed by Singapore and the Philippines in the following months. JCB will offer year-round and seasonal discounts and an additional safe and secure payment method for shoppers. Shopee will also promote participating stores that support JCB.

Yoshiki Kaneko, President and Chief Operating Officer, JCB International Co., Ltd. said, “JCB is proud to be working with Shopee, a market leader in e-commerce segment, as we further commit to supporting our customers in the fast-growing Southeast Asia region. In particular, as consumer shopping habits shift to online and businesses digitalise their activities, we want to be able to further cater to these evolving needs. Over the past 10 years, Southeast Asia has been a growth market for JCB and we’re confident that together with Shopee, we can provide high-quality payments services for businesses and consumers, and continue to grow together with the region. Going forward, JCB and Shopee will continue to provide attractive and convenient services for our customers.”

A joint report by Google, Temasek and Bain & Company, found that the Southeast Asia internet economy has soared to $100 billion in 2019, more than tripling in size over the last four years. By 2025, the region’s internet economy is expected to grow to $300 billion. The report also estimates that 150 million Southeast Asians have bought or sold things online, up three times from 2015[1].

Terence Pang, Chief Operating Officer, Shopee, said: “We are honoured to be a strategic business partner with JCB. As homegrown brands, both Shopee and JCB are deeply committed to supporting local Southeast Asian markets and businesses. This partnership further strengthens our ecosystem to enable brands and sellers in Southeast Asia to capture the opportunities in online commerce. For our shoppers, they will benefit from having another secure payment method and enjoy additional promotions. This is even more crucial in this new normal as commerce is increasingly done online and we need to be able to support diverse habits and preferences. We believe that JCB will bring added value to our ecosystem and look forward to accelerating the digital economy in Southeast Asia together.”

Shopee has experienced good growth in Q1 2020. According to App Annie, in Southeast Asia and Taiwan, Shopee emerged as the top in the Shopping category by average monthly active users and downloads, and also the total time spent in-app on Android. With more Southeast Asian consumers going online through their mobile, Shopee is also focused on driving digital payments in the region. In 2019, Shoppe launched ShopeePay, its own integrated mobile wallet.

JCB, the only international payment brand born in Japan, started its overseas expansion in 1981 by building acceptance of travel destinations for Japanese card members. Since the early 2000s, JCB has focused on expanding its international issuing business to Asian markets, and especially for the last ten years, JCB has been committed to, and has focused its efforts on the fast-growing Southwest Asian market. And its card members in Thailand, Vietnam, Indonesia, the Philippines, Myanmar and Singapore have more than doubled between 2017 and 2019. JCB is pushing forward the e-commerce segment, which is showing a remarkable progress because of economic growth and the diversification of lifestyles in recent years. JCB is also actively adopting new technologies to enhance customer’s payment experience including contactless technology which is used for payments such as public transportation.

[1] “e-Conomy SEA 2019 report.”
https://www.blog.google/documents/47/SEA_Internet_Economy_Report_2019.pdf. Accessed 2 Jul. 2020.

About Shopee

Shopee is the leading e-commerce platform in Southeast Asia and Taiwan. It was launched in 7 markets in 2015 to connect consumers, sellers, and businesses in the region.

Shopee offers an easy, secure, and engaging experience that is enjoyed by millions of people daily. It offers a wide product assortment, supported by integrated payments and logistics, as well as popular entertainment features tailored for each market. Shopee is also a key contributor to the region’s digital economy with a firm commitment to helping brands and entrepreneurs succeed in e-commerce.

Shopee is a part of Sea Limited (NYSE:SE), a leading global consumer internet company. In addition to Shopee, Sea’s other core businesses include its digital entertainment arm, Garena, and digital financial services arm, SeaMoney. Sea’s mission is to better the lives of consumers and small businesses with technology.

About JCB

JCB is a global payment brand and a leading credit 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 34 million merchants as well as cash advance locations around the world. JCB cards are now issued in 24 countries and territories, with more than 140 million cardmembers. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

June 1, 2020 – JCB Co., Ltd., a global payment network and a leading issuer and acquirer in Japan, and TECHFUND Inc., a technology accelerator promoting innovation in startups and leading companies, have signed a strategic partnership agreement to jointly research the construction of a sustainable payment system using blockchain. Based on TECHFUND’s blockchain technologies such as STO (Security Token Offering)*1 and staking*2, JCB and TECHFUND jointly research the payment platform that will contribute to solving various issues in the payment field.

*1 STO: A method of raising funds through tokenized securities issued on the blockchain.
*2 Staking: Earning a reward by continuously holding crypto currencies and contributing to the stability of the system.About JCB

About JCB

JCB is a global payment brand and a leading credit 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 34 million merchants as well as cash advance locations around the world. JCB cards are now issued in 24 countries and territories, with more than 140 million cardmembers. 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 cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit https://www.global.jcb/en/

About TECHFUND

TECHFUND, a TECHNOLOGY ACCELERATOR, was launched on October 9, 2014 with a vision, “BE AN ENTREPRENEUR”. As the world’s first technology accelerator to support startups by investing “technology” instead of money, we have been involved in more than 300 teams of mentoring and due diligence, and have invested in 10 companies. At the same time, we provide an intrapreneur program, “ACCEL PROGRAM for BIZ”, for major companies and contributed to 30 leading companies’ innovations. We also develop scoring algorithms to assess the growth potential of startups and new businesses. TECHFUND is currently focusing on supporting blockchain and STO projects, as well as developing and providing ACCEL BaaS (Blockchain as a Service) to “accelerate” the development of blockchain applications for startups and enterprises. Among the supported startups is EtherSecurity, a company in the staking business.

Developed by fintech player Soft Space, JCB’s introduction of this solution is aimed at driving innovative contactless payments worldwide JCB Co. Ltd. (“JCB”), Japan’s only international payment brand, is leveraging Asia’s leading fintech player, Soft Space Sdn. Bhd.’s (“Soft Space”) technological expertise to develop the Tap on Mobile programme that capitalises on the wide availability of Android smartphones equipped with NFC (near-field communication). JCB Contactless card or mobile device can be used at any merchants that support JCB Contactless. Aimed at driving greater contactless acceptance among JCB acquirers worldwide, JCB has developed the Tap on Mobile programme which will be used to govern all aspects of contactless payment transactions securely made on NFC-enabled Android smartphones, off the shelf. This programme is secure and interoperable based on EMV and PCI standards. The initiative to develop Tap on Mobile programme is a significant milestone for JCB because it believes that the Tap on Mobile solution is the future of payments, and is poised to help JCB significantly grow its acceptance business globally going forward. “We are pleased to be working with Soft Space on this Tap on Mobile programme,” said Tac Watanabe, the Executive Vice President for JCB’s Brand Infrastructure and Technologies Department. “The Tap on Mobile is secure yet convenient for our customers, and given the growth of contactless payment transaction and consumer smartphones worldwide, we believe that the Tap on Mobile will be the key initiative for JCB to drive our contactless agenda to grow globally.” “We are privileged to be working on JCB’s Tap on Mobile programme,” said Joel Tay, Chief Executive Officer of Soft Space. “With businesses being constantly challenged by changing global economic scenarios, Tap on Mobile is a tool that can aid them through such times by offering them an innovative, cost-effective and secure payment solution.” The Tap on Mobile programme builds on the expertise gained through Soft Space’s development of “Fasstap”, world’s first NFC-enabled payment solution with PIN verification, certified by card brands in 2018[1] and subsequently 2019[2]. Tap on Mobile solution has been developed by incorporating JCB’s contactless kernel – the engine that powers contactless payment transactions. Engaging Soft Space’s technological expertise, the solution has met JCB’s necessary standards and approvals. This ensures that payment data transmitted is secured from potential leakage, thus reducing the risk of fraudulent activities. With Tap on Mobile programme in place, JCB can offer its acquirers a new, innovative cashless payment option who will in turn, adopt and deploy as a cost-effective payment solution to their merchants. [1] Businesses can Accept MyDebit Card Payments Using Only Mobile Phones https://paynet.my/press-release/2018/PayNet-Fasstap-Pilot-Launch.pdf [2] Maybank Tap2Phone offers greater mobility for merchant mobile payments https://www.maybank.com/en/news-support/news.page About Soft Space Founded in 2012, Soft Space is a leading Fintech player in the APAC region headquartered in Kuala Lumpur, Malaysia. Soft Space simplifies the complexity of financial infrastructure and creates value-added features for businesses to expand their business growth. With over 20 financial institutions in 11 countries adopting its payment solutions, Soft Space is supported by MDEC’s Global Acceleration and Innovation Network (GAIN) programme and received financial support through MIDA’s Domestic Investment Strategic Fund in 2012. In 2018, Soft Space ranked 66th out of 1000 companies in the Financial Times ‘FT 1000: High Growth Companies in Asia Pacific’ Special Report. For more information, please visit https://www.softspace.com.my/ Brenda Lim Communications Executive Tel: +603 7494 1222 Email: brenda.lim@softspace.com.my About JCB JCB is a major global payment brand and a leading credit 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 over 33 million merchants and over a million cash advance locations in the world. JCB cards are now issued in 24 countries and territories, with more than 136 million cardmembers. 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 cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit https://www.global.jcb/en/