JCB International signs License Agreement with Kyrgyzkommertsbank to start acceptance of JCB cards in Kyrgyz Republic

Tuesday, 10 March 2020, 17:00 HKT/SGT

Bishkek, Kyrgyz Republic and Tokyo, Japan, Mar 10, 2020 - (ACN Newswire) - JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., and PJSC Kyrgyzkommertsbank, one of the leading banks in the Kyrgyz Republic announced signing a License Agreement for building a JCB card acceptance network and to start JCB merchant acquiring operations in the Kyrgyz Republic.

All JCB cardmembers travelling to Bishkek and other cities of the Republic will be able to use their JCB cards for purchases at merchants and for cash withdrawals at ATMs of Kyrgyzkommertsbank throughout the Kyrgyz Republic by the end of 2020.

This partnership will allow both the merchants affiliated to Kyrgyzkommertsbank to add a new payment system brand as an incremental sales opportunity, and JCB to offer cardmembers wide acceptance during tourist and business stays in the Kyrgyz Republic.

JCB is one of the major international payments brands and the only one originated in Japan. There are more than 130 million JCB cardmembers in the world, and JCB cards are accepted at 33 million associated merchants.

Takashi Suetsugu, the General Director of JCB International (Eurasia) LLC commented, "We are delighted to announce that Kyrgyzkommertsbank, a bank with a reliable and stable reputation and having a long history of success in the financial market of the country will start accepting JCB cards in the Kyrgyz Republic. The Kyrgyz Republic has one of the closest relationships with Japan among Central Asian countries, and we see an increasing number of travelers from Russia and China which are countries where JCB's card issuing business is growing rapidly. We hope that the cooperation with Kyrgyzkommertsbank will help to create a more comfortable and hospitable environment for JCB cardmembers from these countries".

"Evolvement of non-cash turnover in Kyrgyzstan is one of our strategic priorities. Developing cooperation with JCB, Kyrgyzkramdsbank will simplify payments with cards for tourists from East and South-East Asia. JCB cardholders traveling in Kyrgyzstan will be able to use their cards to pay for purchases and withdraw cash at Kyrgyzkommertsbank ATMs throughout Kyrgyzstan. This partnership will allow trading companies cooperating with Kyrgyzkommertsbank to get new sales opportunities with the help of the global financial brand," commented Erik Usubaliev, Deputy Chairman of the Board of Kyrgyzkommertsbank.

About PJSC Kyrgyzkommertsbank

PJSC Kyrgyzkommertsbank is a Kyrgyz-Japanese bank that provides a wide range of banking services in the Kyrgyz Republic and has been operating effectively in the financial market for over 27 years.

Constantly improving and keeping up with the most modern international trends, the Bank is a stable and reliable financial institution of the Kyrgyz Republic.

The main areas of business: deposit placement, lending, settlements and cash services for legal entities and individuals, operations with securities, foreign currency, issuing and servicing of credit and payment cards. The Bank has the highest status of Principal Member of the international payment systems, Visa, Mastercard and Union Pay International. It serves Visa, Mastercard, Maestro, American Express, Union Pay International and Elcard cards. Additional information about Kyrgyzkommertsbank is available on the official website of the bank www.kkb.kg

About JCB

JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. 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 card member 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, please visit: www.global.jcb/en/.

CONTACT
JCB
Kumiko Kida
Corporate Communications
Tel: +81-3-5778-8353
Email: kumiko.kida@jcb.co.jp

Topic: Press release summary
Source: JCB / PJSC Kyrgyzkommertsbank
Sectors: Cards & Payments, Daily News, Regional, Local Biz
https://www.acnnewswire.com
From the Asia Corporate News Network