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Friday, 5 September 2014, 17:00 HKT/SGT
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Source: JCB
ACLEDA Bank Plc. and JCB International Co., Ltd. to Sign a License Agreement for Card Issuing Business

Phnom Penh, Cambodia and Tokyo, Japan, Sept 5, 2014 - (ACN Newswire) - ACLEDA Bank Plc. (ACLEDA), a leading commercial bank for all sectors in Cambodia, and JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB, hereby announces that ACLEDA signed a License Agreement with JCBI for JCB card issuing business.

Under the agreement, ACLEDA and JCBI have agreed to issue JCB card, and both ACLEDA and JCBI will establish a basis framework for further collaboration and cooperation and offer high-quality payment, travel, and entertainment services to merchants and cardmembers, which shall mutually benefit to ACLEDA and JCBI, and shall cooperate in expanding the JCB merchant and cardmember networks.

Mr. Koremitsu Sannomiya, President and COO of JCBI said, "It is a significant step for us to expand our cardmember base in Mekong region, which is positioned as our key strategic area. Cardmembers will be able to enjoy various benefits with JCB card which is now accepted at over 26 million locations worldwide. I believe this partnership will surely bring about mutual benefits to both of us and help promote development of Cambodian payment industry."

Dr. In Channy, President & Group CEO of ACLEDA, said, "ACLEDA is delighted to be a strategic partner with JCBI who is one of the world leaders in payment services with high-quality and the international payment brand based in Japan. This License agreement will enable both ACLEDA and JCBI customers/cardmembers and merchants to broadly expand their payment coverage globally. The most important point is ACLEDA ATM Cardholders can upgrade their status with ACLEDA and JCB card which enable them to pay at over 26 million JCBI merchants locations, and over a million cash advanced locations in 190 countries and territories in the world. It is not only facilitating domestic and international payment, but it also eases the cardholders and merchants of both ACLEDA Bank Plc. and JCBI in general payment, and of course it is offering the multichannel of choice for global payment from anywhere, and anytime they wish to do."

About ACLEDA Bank Plc.

ACLEDA Bank Plc. has sustainably providing financial products and services for more 22 years for all segment of the community - both private and public sectors through 252 branches throughout Cambodia, and via electronic infrastructure network globally; and it has four subsidiaries: ACLEDA Securities Plc., ACLEDA Training Center Ltd., ACLEDA Bank Lao Ltd. (41 branches and offices in Laos) and ACLEDA MFI Myanmar Co., Ltd. (6 branches and offices in Myanmar) with the bank's assets of USD 2.79 billion by the end of August 2014. And strategically, ACLEDA Bank Plc. is in the partnership with Japanese Bank, Sumitomo Mitsui Banking Corporation (SMBC), and British Life Assurance Company, Prudential (Cambodia) Life Assurance Plc. and others. It has 484 correspondent banks with their branches around the globe.

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 about 26 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 84 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 About JCB are as of the end of March 2014.

For more information contact:

Dr. So Phonnary,
EVP & Group Chief of Operations Officer
ACLEDA Bank Plc.
Tel: 015 900 114
E-mail: phonnary@acledabank.com.kh

Mr. Prom Visoth,
EVP & Group Chief Legal Officer
ACLEDA Bank Plc.
Tel: 015 900 133
E-mail: visoth@acledabank.com.kh

Ms. Ayako Tanaka
JCB International Co., Ltd.
Corporate Planning
Phone: +81-3-5778-8390
Email: jcbinternational-pr@info.jcb.co.jp

Topic: Business Tieup
Source: JCB

Sectors: Cards & Payments
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