JCB International has signed a licencing agreement with with Kyrgyzkommertsbank to start JCB card acceptance in the Kyrgyz Republic.
The agreement enables JCB card members to make purchases and ATM cash withdrawals in the region using their JCB cards.
In addition, the partnership allows merchants affiliated to Kyrgzkommertsbank to add a new payment system brand. It also allows JCB to offer card members wide acceptance during tourist and business stays in the Republic.
Takashi Suetsugu, General Director of JCB International Euraisa, said: “We are delighted to announce that Kyrgyzkommertsbank, a bank with a reliable and stable reputation and having a long history of success in the financial market of the country will start accepting JCB cards in the Kyrgyz Republic.
“The Kyrgyz Republic has one of the closest relationships with Japan among Central Asian countries. We see an increasing number of travellers from Russia and China – countries where JCB’s card issuing business is growing rapidly. We hope that the cooperation with Kyrgyzkommertsbank will help to create a more comfortable and hospitable environment for JCB cardmembers.”
To date, JCB has over 130m card members across the globe. Furthemore, 33m associated merchants accept JCB cards.
Erik Usubaliev, deputy chairman of Kyrgyzkommertsbank, said: “Evolvement of non-cash turnover in Kyrgyzstan is one of our strategic priorities. Developing cooperation with JCB, Kyrgyzkramdsbank will simplify payments with cards for tourists from East and South-East Asia.
“JCB cardholders travelling in Kyrgyzstan will be able to use their cards to pay for purchases and withdraw cash at Kyrgyzkommertsbank ATMs throughout Kyrgyzstan. This partnership will allow trading companies cooperating with Kyrgyzkommertsbank to get new sales opportunities with the help of the global financial brand.”
Earlier this year, JCB teamed up with Hong Kong’s Oceanpayment to offer JCB card members cross-border payments.
Additionally, the Japanese company partnered with Danish payments firm Nets to enable card acceptance in Finland. The two companies plan to expand the JCB acceptance network in Finland throughout 2020.