JCB International (JCBI), the international operations subsidiary of JCB, and Russian Agricultural Bank (RusAg) have inked a license agreement on acquiring and issuing JCB cards in the Russia.
Pursuant to the contract, RusAg will start accepting all JCB cards on the bank’s ATM network and POS terminals. Additionally, the Russian lender will also issue JCB cards and MIR/JCB co-badged cards in the country.
Commenting on the agreement, Russian Agricultural Bank deputy chairman of the board Irina Zhachkina said: “Russian Agricultural Bank is actively developing cooperation with leading payment systems. We issue and accept Visa, Mastercard, UnionPay and Mir cards.
“Cooperation with JCB, which is one of the leading payment brands, will expand the range of opportunities for our clients who will be able to choose the most appropriate product for them.
“The launch of a co-badging project with National Payment System and JCB will allow RusAg cardholders to pay with Mir card not only in Russia but also during trips abroad. Certainly, this partnership with JCB will contribute to further development of the bank’s card business, including growth of transactions volume and number of cards.”
JCBI president and COO Kimihisa Imada said: “Cardmembers will be able to use MIR/JCB cards for daily purchases and cash withdrawal both in Russia and abroad.
“Cardmembers of MIR/JCB card of Russian Agricultural Bank will get unique offers and discounts around the world provided by JCB and have the chance to become participants of the loyalty program provided by the Mir payment system in Russia.”