|Thursday, 17 October 2013, 09:00 HKT/SGT|
TOKYO, Oct 17, 2013 - (ACN Newswire) - JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd. (JCB), the major global payment brand based in Japan, today announced the start of its fully-fledged sales activity of card issuance in Italy following the completion of the feasibility study of JCB co-badged card issuance with Consorzio BANCOMAT (Consorzio).
Consorzio is Italy's national debit scheme, who manages domestic payment brand, BANCOMAT/PagoBANCOMAT and has over 30 million cardmembers and more than 45,000 ATMs in Italy. JCB co-badged card means a payment card where all functions and logos of both JCB and Consorzio coexist on a card. Through evaluating the interoperability between brands co-badged on the same card, JCBI and Consorzio reached a consensus that there are no technical and operational impacts on co-badging Consorzio with JCB Card subject to the respective compliance of scheme process. Taking these results, JCB will accelerate the sales activity of JCB Card issuance in Italian market.
JCB and JCBI entered into Europe to expand the JCB merchant network, and increase offerings and convenience for JCB cardmembers in 1981. Currently, JCB card is accepted at 24 million merchants worldwide including several million in Europe developed through alliances with European partner banks and financial institutions.
"JCB started this evaluation activity subsequent to the Memorandum of Understanding signed between both parties in April 2013," said Mr. Kimihisa Imada, Deputy President of JCBI. "The activity brought us a very satisfactory outcome which is a significant step to enable us to launch our sales activities to Italian banks. Also JCB believes it will open up new opportunities for Italian banks expanding their customer offerings as well as further progress into the Italian market. We are very confident with this new challenge in Italy following the successful alliance with German bank associations, to expand acceptance as well as cardmember base in Europe. JCB hopes to strengthen and stabilize our presence as an international payment brand in the European market while we maximize mutual benefits with our partners by the growth of each brand."
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 about 24 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 provide responsive and high-quality service and products to all customers worldwide. For more information, visit: www.jcbcorporate.com/english
JCB International Co., Ltd.
Ayako Tanaka, Junko Asaoka
Topic: Press release summary
Sectors: Cards & Payments
From the Asia Corporate News Network
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