JCB International (JCBI), the international operations subsidiary of JCB, has inked a licensing agreement with Belarus-based Belinvestbank JSC on merchant acquiring of JCB cards in the country.
With the new agreement, JCB cardholders will now be able to pay for goods and services using their cards and withdraw the local currency from ATMs, eliminating the need for foreign currency exchange.
The collaboration will enable the Belinvestbank merchants to serve a new segment of customers – JCB card members and co-badged MIR-JCB card members including businesspeople, tourists, and students from Russia and the Asian region.
Belinvestbank, which has a network of over 6,000 merchants and 700 ATMs, has planned that all JCB card members will be able to use their cards at the bank's acceptance locations.
JCBI deputy president Kimihisa Imada said: “I am confident that the partnership with Belinvestbank, which is among the five strongest banks in Belarus, will expand the JCB card acceptance network and will contribute to the development of the payment industry of the Republic of Belarus.
“The number of JCB card members is growing, and I am glad that now cashless transactions are available for JCB cards in Belarus.
“Belarus is a convenient location for tourists from Russia, where banks are issuing JCB cards, and also has a rich history and culture that can attract numerous card members from Japan, China, South Korea and other countries of the Asia-Pacific region.”