JCB International Co., Ltd. ("JCBI"), the international operations subsidiary of JCB Co., Ltd., has started JCB merchant acquiring operations with ACLEDA Bank Plc. ("ACLEDA"), one of the major commercial banks in Cambodia.
With this launch, JCB cards will be accepted at over 650 locations throughout the country. Cambodia is a rapidly growing country with more than 6% of annual economic growth rate since the beginning of 2000s, and increasing attractiveness as a new investment destination as well as other Mekong region countries. It is expected that there is growing demand for acceptance of payment cards from business visitors and tourists coming to Cambodia. Mr. Kimihisa Imada, Deputy President of JCBI, said, "I believe that the acceptance of JCB cards by ACLEDA will improve the brand awareness of JCB and bring more benefit and convenience to merchants and JCB cardmembers visiting the country." "We expect that the need for payment card acceptance will further grow in Cambodia because an increasing number of people are visiting this country every year. We feel it is important for us to cater to such need particularly among JCB cardmembers in neighboring countries such as Thailand and Vietnam. We look forward to exploring further business opportunities such as card issuance in the near future, and establishing win-win relationship with ACLEDA," he added.
© Finextra Research 2016