JCB, a leading international payment brand, is pleased to announce that its international subsidiary, JCB International Co., Ltd., signed an acquiring license agreement with Bhutan National Bank today. The bank will be conducting JCB brand acquiring and processing business in Bhutan.
"We are delighted that today marks the first JCB acquiring license to be granted to a Bhutanese bank," said Mr. Makoto Sekine, Managing Director at JCB International (Thailand). "Since 25% of foreign visitors to Bhutan are Japanese, this agreement will mean more complete service for JCB cardmembers with a broader merchant network in Bhutan," he added.
Mr. Kipchu Tshering, Bhutan National Bank's Managing Director, commented, "We are looking forward to the benefits this new alliance will bring. By adding the JCB international brand to our product line, we now can meet the needs of merchants that are interested in Japanese travelers."
Bhutan is located on the southern slopes of the majestic Himalayas, and as a travel destination boasts a beautiful natural environment and a unique culture. Bhutan National Bank, headquartered in Thimphu, was established in 1997. The Bank provides acquiring services to merchants, including souvenir shops, handicrafts emporiums, hotels and others merchants popular with foreign tourists.
With this agreement, the JCB brand will be phased in at all the bank's merchants from September 2004. With the addition of Bhutan, the JCB brand is now accepted in 190 countries and territories around the world.