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Tuesday, 16 July 2013, 11:00 HKT/SGT

Source: JCB
Card Issuing and Merchant Acquiring Partnership Signing between CIMB Niaga and JCB International Indonesia

TOKYO & JAKARTA, July 16, 2013 - (ACN Newswire) - PT. Bank CIMB Niaga Tbk ("CIMB Niaga"), the 5th Largest Bank in Indonesia and PT. JCB International Indonesia, a subsidiary of JCB International Co, Ltd. ("JCBI"), the international operation subsidiary of JCB Co., Ltd. (hereinafter collectively "JCB"), are pleased to announce the commencement of partnership for credit card issuance and merchant acquiring business.

With growing number of Japanese business community and tourists visiting Indonesia, developing the merchant acquiring business in Indonesia will provide acceptance platform for JCB cards to be used within Indonesia. JCB and CIMB Niaga are due to launch the merchant acquiring business in July 2013 and are ready to accept JCB card as means of payment, starting with Jakarta and Bali as the first area to be focused.

Having JCB as a new principal for credit card issuing business provides CIMB Niaga with more credit card products to target the affluent segments. With the strong presence of JCB merchants across East Asia, especially Japan, Korea and China, the new CIMB Niaga JCB Credit Card will provide benefits to the cardmembers since many of the cardmembers from this segment are traveling to those countries. CIMB Niaga and JCB will launch CIMB Niaga JCB Credit Card in early 2014. This credit card product will provide the cardholders with strong and interesting benefit in traveling, shopping and dining.

"This partnership with one of the leading banks in Indonesia is a remarkable step forward for JCB to increase its presence in this market," said Hiroshi Terada, Director of JCB International. "CIMB Niaga is a rapidly growing bank with its card business by providing a variety of benefits to its customers, in particular, the ones catered to its premium customers, such as golf and fine dining. JCB can top them up with its unique worldwide services which will meet CIMB Niaga's customers' diversifying needs."

Terada added, "The network of CIMB Niaga's selective merchants will provide more convenience to JCB Cardmembers visiting Indonesia from abroad as well as residing in Indonesia. As the number of JCB Cardmembers are sharply increasing in Asia, it will be a great benefit for CIMB Niaga's merchants to become able to better serve their customers by offering an additional payment option." He also said, "With the success of this partnership, we would really like to broaden the partership with CIMB Group to cover the whole ASEAN region."

Samir Gupta, Consumer Banking Director of CIMB Niaga said, the partnership with JCB has shown CIMB Niaga's commitment to serve our consumer segment with more and more innovative products. Currently, CIMB Niaga is one of Indonesian banks which established a Japan Desk and is one of the fastest growing banks to develop the business with Japanese counterparties. And with the strong presence of JCB Credit Cards across East Asia, especially in Japan, China and Korea, it has been the reason why CIMB Niaga is eager to develop the partnership with JCB in Indonesia.

"On the other hand, with the rapid growth of travel industry in Indonesia and more and more Indonesians traveling across those countries, JCB Credit Card will be a suitable product to be introduced to this segment. I believe with this CIMB Niaga and JCB can work and grow the business together in this partnership" said Samir.

Samir added that the partnership between CIMB Niaga and JCB would hopefully increase the CIMB Niaga's awareness within credit card industry and would increase the number of credit card holders and CIMB Niaga card portfolio.

About CIMB Niaga

CIMB Niaga was established as Bank Niaga in 1955. CIMB Group holds around 97.94% of the stakes in CIMB Niaga. The Bank offers a comprehensive suite of both conventional and Islamic banking products and services, through an expanding delivery channel network of 971 offices all over Indonesia as at 31 March 2013, including 592 branches, 350 Mikro Laju units (including 21 outlets attached to a branch), and 50 cash/payment points. CIMB Niaga has more than 14,300 employees.

CIMB Niaga encourages people to share high growth and take advantage of all the potential that South-East Asia regions bring - in line with CIMB Group's brand positioning: "ASEAN for You".

CIMB Group is Malaysia's second largest financial services provider and one of ASEAN's leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, the Group is now present in 8 out of 10 ASEAN nations (Malaysia, Indonesia, Thailand, Singapore, Cambodia, Brunei, Vietnam, and Myanmar). Beyond ASEAN, the Group has market presence in China, Hong Kong, Bahrain, India, Sri Lanka, Taiwan, Australia, the US, UK and Korea. CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It has a market capitalisation of USD18.4 billion as at 31 March 2013. The Group has over 42,000 employees located in 17 countries.

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 80 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. JCBI entered into the Indonesian market in 1983 to expand JCB card acceptance for JCB Cardmembers largely based in Japan, China, Korea, Taiwan, and other Asian countries who travel to Indonesia. JCB Cards are today accepted at more than 100,000 merchants in Indonesia. For more information, visit: www.jcbcorporate.com/english .


Harsya Denny Suryo
Corporate Secretary
PT Bank CIMB Niaga Tbk
Tel: +62-21-546-0555 ext. 46019
Fax: +62-21-252-6749
Website: www.cimbniaga.com

Ayako Tanaka, Junko Asaoka
Corporate Planning
JCB International Co., Ltd.
Tel: +81-3-5778-8390
Email: ayako.tanaka@jcb.co.jp, junko.asaoka@jcb.co.jp
Website: www.jcbcorporate.com/english

Topic: Business Tieup
Source: JCB

Sectors: Cards & Payments, Daily Finance, Daily News
From the Asia Corporate News Network

Copyright © 2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


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