Tokyo, June 18, 2012 - (JCN Newswire) - Equity Bank, a major financial institution in Kenya, and JCB International (JCBI), the international operations subsidiary of JCB, the only global payment brand based in Japan, today announced that Equity Bank and JCBI have signed a merchant acquiring license agreement. Through this agreement, Equity Bank will phase in facilitating JCB card acceptance at all Equity Bank merchant locations in Kenya, Uganda, South Sudan, Rwanda and Tanzania. Equity Bank plans to start operations in December 2012.
Mr. Koremitsu Sannomiya, President and COO of JCBI stated, "This is an affirmation of JCB's commitment to develop its business on a global scale. We see the African market as an area of potential growth for JCB and of increasing importance for our cardmember base globally. I am confident that Equity Bank will prove to be an excellent partner as we expand our business across the continent."
"We are pleased to partner with JCBI as a licensed acquirer of JCB cards in Eastern Africa," said Dr. James Mwangi, CEO of Equity Bank Group, "Our partnership with JCBI will further enhance convenience of financial access while facilitating ease of international business and travel for JCB cardmembers in Kenya and the wider region."
JCBI has seen the growth of in-bound traffic of travellers into the region in recent years both from a tourist and business perspective. JCBI is looking forward to working even more closely with its partners in the region to ensure that the JCB card acceptance network will continue to grow, providing more convenience and services to JCB cardmembers from around the world.
About Equity Bank Group
Equity Bank Group is one of the region's leading banks whose purpose is "to transform the lives and livelihoods of the people of Africa socially and economically by availing them modern, inclusive financial services that maximize their opportunities." Equity Bank has evolved to become an all inclusive bank. With over 7.5 million accounts, Equity Bank is the largest bank in the region in terms of customer base. The Bank has operations in Kenya, Uganda, South Sudan, Rwanda and Tanzania. Equity Bank was the first bank in the country to install the EMV (Europay-Mastercard-VISA) technology in the bank's Automated Teller Machines (ATMs) outlets and point of sales (POS). The EMV card contains a small computer chip, which gives greater memory capacity and ensures improved security for consumers. Equity Bank is the first bank in East Africa to comply with all PCI/DSS and EMV standards.
About JCB
JCB is a major global payment brand and a leading credit 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 over 23 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 16 countries and territories, with more than 79 million cardmembers. As part of its international growth strategy, JCB has formed alliances with more than 350 leading banks and financial institutions globally to increase merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, visit: www.jcbcorporate.com/english .
Contact:
Ayako Tanaka
Corporate Planning
JCB International Co., Ltd.
+81-3-5778-8390
ayako.tanaka@jcb.co.jp
June 18, 2012
Source: JCB
JCB
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
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