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Friday, 15 March 2013, 09:00 HKT/SGT

Source: JCB
JCB and China CITIC Bank Issuing Partnership
10th Bank in China to Issue JCB Cards

TOKYO, Mar 15, 2013 - (ACN Newswire) - JCB International Co, Ltd., the international operations subsidiary of JCB, the only global payment brand based in Japan, and China CITIC Bank, subsidiary of China's government-run conglomerate CITIC (China International Trust and Investment Corporation) today announced the launch of the CITIC Magic JCB Card, the first card of their new issuing partnership. Applications for the new card are being accepted starting today.

JCB and China CITIC Bank Issuing Partnership

CITIC is one of the world's largest financial institutions, and China CITIC Bank is its core commercial bank. With a national branch network and solid merchant acquiring base, China CITIC Bank has also been expanding credit card business in recent years. The CITIC Magic JCB Card is specifically targeted to women, and provides a variety of beauty and health-related privileges such as rewards(1), discounts and other special offers at beauty shops, and health insurance tailored to women's needs. Cardmembers also enjoy JCB brand services such as the JCB Plaza and JCB Plaza Lounge customer service network in 61 popular destinations worldwide, among many other travel-related services.

The JCB brand has been building a presence in China since 1982. In the early years the focus was on cultivating JCB merchant network to serve Japanese cardmembers traveling to the country, and now JCB has acquiring partnerships with 12 major financial institutions for about 150,000 merchants that accept JCB cards. Since 2005, with the growth of credit card demand, JCB has been actively entering into issuing partnerships, with major banks such as Bank of China, Bank of Shanghai, China Everbright Bank, China Merchants Bank, Shanghai Pudong Development Bank, China Minsheng Banking Corporation, Industrial and Commercial Bank of China, Pingan Bank and China Construction Bank, in addition to China CITIC Bank, for about 6.5 million JCB cardmembers living in China(2).

"JCB and China CITIC Bank have had a long-term relationship since our merchant acquiring partnership in 1991," said Koremitsu Sannomiya, President & COO of JCB International. "I am confident that the launch of issuance makes our partnership even stronger, and will be capable of providing high quality services to meet the diversifying needs of consumers in China."

(1) Not all card types are eligible for rewards.
(2) Figures as of January2013.

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 23 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 78 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 providing responsive and high-quality service and products to all customers worldwide. For more information, visit: www.jcbcorporate.com/english .

About China CITIC Bank

Founded in 1987, China CITIC Bank, formerly known as CITIC Industrial Bank, is one of the earliest emerging commercial banks established during China's reform and opening up and among China's first commercial banks engaging in financing in domestic and international financial markets. It is famous home and abroad for creating numerous number ones in Chinese contemporary financial history. China CITIC Bank's business covers nearly 130 countries and regions all over the world with 78 branches and 622 sub-branches in Chinese Mainland mainly located in Eastern coastal regions and economically developed cities in central and Western regions. China CITIC Bank has a total of over 33,000 employees, among which more than 26,000 business personnel, with high quality financial service, provide corporate customers with integrated financial solutions including corporate banking, international business, treasury and capital market business and investment banking business, and provide individual customers with vast varieties of financial products including wealth management, credit card, consumer credit, private banking and go-abroad financial service products.

JCB International Co., Ltd.
Ayako Tanaka, Masayasu Okada
Corporate Planning Department
ayako.tanaka@jcb.co.jp, masayasu.okada@jcb.co.jp

Topic: Business Tieup
Source: JCB

From the Asia Corporate News Network

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