JCB International (JCBI), CIMB Bank Singapore (CIMB), and Wirecard have signed a license agreement to start JCB merchant acquiring services in Singapore.
CIMB, which already has established similar collaborations in Malaysia and Indonesia, believes that the new agreement will expand the collaboration into other parts of Southeast Asia and enhances cooperation in the region.
JCBI said that the new merchant acquisition partnership with CIMB will strengthen the JCB card acceptance network in the market and promote new merchants to JCBI's cardholder base from Asia during their stay in Singapore.
JCB International Asia Pacific managing director Vincent Ling said: “As Singapore continues to be a key tourist destination for Asians including Japanese, Korean, and Chinese, a stronger JCB card acceptance will bring about enhanced convenience to JCB card members.
“JCBI is pleased to collaborate with CIMB Bank Singapore and we look forward to working closely together to serve our card members, merchants and business partners better.”
CIMB Bank Singapore CEO CIMB Group country head of Singapore Mak Lye Mun said: “This partnership unlocks opportunities for our merchant acquiring business and I'm confident it will benefit both merchants and JCB card members through greater card acceptance and increased payment options.”