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Thursday, 10 March 2022, 15:00 HKT/SGT
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Source: JCB / Bank AlJazira
Bank AlJazira and JCB partner to enable JCB acceptance in KSA

RIYADH & TOKYO, Mar 10, 2022 - (ACN Newswire) - Bank AlJazira has partnered with JCB International Co., Ltd. to launch JCB acceptance throughout its POS and ATM network in the Kingdom of Saudi Arabia (KSA). The partnership complements the role of Saudi Payments to enhance the financial landscape in the kingdom and enable international payment schemes to operate in the KSA market.

Yuichiro Kadowaki, Director and CEO of JCB Middle East LLC, and Naif Al Abdulkareem, CEO of Bank AlJazira, formalizing the JCB-AlJazira partnership in a signing ceremony at Bank AlJazira in Riyadh. [Photo credit: Bank AlJazira]

JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan, and JCB Cards are used by more than 140 million cardholders and accepted at about 37 million locations globally. This partnership will enable Bank AlJazira to accept JCB Cards across their network of POS terminals and ATM terminals deployed throughout the Kingdom and also provide greater convenience for JCB's growing cardholders in Islamic markets.

Both sides are delighted to reach this agreement, which would add new channels of acceptance for the JCB branded cards in the Saudi market, and will enable visitors to the Kingdom from various countries to use their JCB Cards through the POS and ATM network of Bank AlJazira in stores and outlets across the Kingdom.

Yuichiro Kadowaki, Director and CEO of JCB Middle East LLC, said, "Bank AlJazira is one of the leading banks in the Kingdom. I am delighted to expand our acceptance network of JCB Cards through the partnership with Bank AlJazira. This will help expand our business further in the Kingdom. We look forward to this exciting opportunity as it is in line with the Kingdom's enhanced Vision 2030 strategy and the ever-increasing close ties between Saudi Arabia and Japan."

Naif Al Abdulkareem, CEO of Bank AlJazira, said, "JCB is a global payments brand that will add great value in increasing the payments acceptance in the Kingdom of Saudi Arabia. In line with Saudi Central Bank strategy and Saudi Payments initiative to achieve 2030 vision, we are pleased to announce our partnership agreement with JCB which will enhance and enrich our business and satisfy the cardholders and merchants by providing our best payments solutions."

Abdulaziz Alafaleg, Managing Director of Saudi Payments, said, "Enabling JCB in the Saudi market is a remarkable milestone driven by the strategy of the Saudi Central Bank and helping the achievement of Vision 2030 goals. As part of our engagement to introduce advanced payment services and features across the Kingdom of Saudi Arabia and continuous efforts to enhance the ecosystem's competitiveness, the enablement of globally renowned international payment schemes such as JCB to operate in KSA emerges as an important driver to help us reach our endeavors to offer multiple options for the kingdom's residents and visitors."

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 37 million merchants around the world. JCB Cards are issued mainly in Asian countries and territories, with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its 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, please visit https://www.global.jcb/en/.

About Bank AlJazira

Bank AlJazira is recognized as one of the leading Shari'ah compliant fast growing financial institutions in Saudi Arabia, the customer-driven and service-oriented Saudi Financial Group which provides individuals, businesses and institutions with innovative Shariah compliant financial services through professional and dedicated staff.

Our products and services are designed to meet the end-to-end needs of all customers from account opening to time deposits, debit and credit cards to personal finance in addition to a wide range of mortgage finance products. Furthermore, our award winning Electronic Banking services are among the best since its launching in the Saudi Market including AlJazira Online, AlJazira SMART, AlJazira Phone, and Shari'ah compliant credit card offerings. Please visit https://www.bankaljazira.com/

About Saudi Payments

Saudi Payments is the national foundation of digital payments and the developer and operator of the national payment infrastructure in the Kingdom of Saudi Arabia with the aim to accelerate the transition to a society less dependent on cash, in line with the Saudi Central Bank's strategy and the aspirations of the Financial Sector Development Program (FSDP) towards achieving the goals of Saudi Vision 2030. The entity operates under the supervision of the Saudi Central Bank (SAMA), offering secure and interoperable digital payment solutions. Visit Saudi Payments at https://www.saudipayments.com.

Contacts

Bank AlJazira
Ahmed K. Al Hassan
Acquiring and Digital Payments
Mobile: +9665 0561 8141
Email: aalhassan@baj.com.sa

JCB Co., Ltd.
Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@jcb.co.jp

Topic: Press release summary
Source: JCB / Bank AlJazira

Sectors: Cards & Payments, Daily Finance, Local Biz, FinTech
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