Kazkommerts Bank To Start Enabling Acceptance Of JCB Cards In Kazakhstan
Almaty, Kazakhstan and Tokyo, Japan, Feb 7, 2017 – (ACN Newswire) – JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced the launch of JCB card acceptance through Kazkommertsbank (Qazkom), which is one of the largest commercial banks in the Commonwealth of Independent States (CIS) and the largest by assets in Kazakhstan. This arrangement was achieved based on the strategic relationship between Discover and JCB starting in 2006, which has enabled JCB card acceptance on the Discover Network in the U.S., and Discover card acceptance on the JCB network in Japan.
Kazkommertsbank is the leading bank with the largest network in the country. This arrangement opens up new possibilities for Kazkommertsbank, Discover Global Network, and JCB to expand their business. Discover Global Network, the payments brand of Discover Financial Services, will enable JCB cards to run on its network for all Qazkom acquired merchants. For Kazkommertsbank, the addition of JCB as a new payment brand into its network brings new sales opportunities, and wider JCB acceptance in Kazakhstan enhances payment convenience for over 100 million JCB cardmembers. All JCB cards issued in 23 countries and territories will be accepted by Kazkommertsbank’s network via the Discover Global Network throughout Kazakhstan.
Takashi Suetsugu, General Director of JCB International Eurasia LLC, stated: “We are sure this arrangement will support our objective to expand acceptance of JCB cards in Central Asia which is a strategically important region for JCB to satisfy our cardmembers’ needs for global acceptance, especially those visiting Kazakhstan from Russia, China, and Japan. We believe our collaboration will contribute towards the growth of card payments and tourism in Kazakhstan and provide greater convenience to JCB cardmembers from all over the world.”
Kazkommertsbank is one of the largest commercial banks in the CIS and is the largest by total assets in Kazakhstan. The Bank provides a wide range of banking and financial services to corporate and retail clients across Kazakhstan and the surrounding region. The bank has been granted an emergency loan, which has been assumed as a first step of the special government-sponsored KZT 1.5 trillion rescue programme being discussed between the management of the bank and the National Bank of Kazakhstan. Kazakhstan’s biggest bank struggling as asset quality worsens. Kazakh president Nazarbayev orders merger of Halyk bank and Qazkom.
JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 32 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 23 countries and territories, with more than 100 million card members. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide.
Note: Statistics in About JCB are as of September 2016.