JCB International Indonesia, a subsidiary of JCB International, has signed a partnership with Indonesia-based Bank Mandiri for payment card business.
Under the agreement, Bank Mandiri will start accepting JCB cards at its ATMs and EDC. The deal will also include issuance of payment card with JCB brand.
The first phase of the partnership, which is scheduled to launch by the end of 2015, will include JCB Card acceptance, whose number exceeded 88 million, at all acceptance locations.
Additionally, the second phase of the partnership that includes JCB card issuing is targeted for 2016.
Mandiri director of consumer banking Hery Gunardi said: "Mandiri’s collaboration with JCBI is a new breakthrough to expand the service in the retail sector. This cooperation is expected to increase the volume of credit card transactions at our merchants.
"We believe that this cooperation will be able to meet the people’s need for convenient, fast, and reliable payment. Additionally, this collaboration has a potential to be reciprocal, whereby payment cards issued by banks in Indonesia will be able to transact on the network belonging to JCBI."
JCBI deputy president Kimihisa Imada said: "This partnership will considerably improve convenience of JCB card usage across Indonesia by adding more than 290,000 acceptance locations."