18 July 2018
Visit www.avoka.com

Bulgaria's Transcard signs JCB acquiring and issuing licenses

29 October 2004  |  869 views  |  0 Source: JCB

JCB, a leading international payment brand, is pleased to announce that its international subsidiary, JCB International Co., Ltd., has signed acquiring and card issuing license agreements with Transcard SA, based in Sofia, Bulgaria. The signing ceremony took place at JCB's world conference held in Kyoto this month. Transcard will start merchant operations by March 2005 and card issuing by September 2005.

"We are delighted with this new alliance in Bulgaria, it's a powerful addition to the network of bank partnerships we have been building throughout Europe and around the world", said Mr. Eiji Tamura, Senior Vice President of JCB International. "Through these merchant- acquiring and card-issuing agreements, we are combining Transcard in-depth local knowledge with our global capabilities to reach a far greater number of Bulgarian consumers seeking innovative financial products that deliver premium value and service."

"Transcard was the first non-bank entrant to the Bulgarian credit card industry, and we are looking to the JCB cobrand card to further extend our share of the market", commented Mr. Christo Georgiev, Chairman of Transcard. "Bulgaria is ready to join the EU in 2007, the perfect opportunity for making the Transcard JCB card the must-have international brand card."

Transcard entered the credit card business in 2002, when there were only about 50,000 credit cards in Bulgaria. Offering cash-back benefits that vary from 1 to 30%, Transcard built a substantial base of over 60,000 cardholders with 100,000 cards in two short years. It offers Classic and Gold cards for individuals, a Business card for corporate clients, and a Fleet card for use at gasoline stations and expecting to issue 30,000 of the new JCB cards in the first year. In merchant acquiring, Transcard is planning to achieve a coverage rate of 80% of merchants accepting credit cards in Bulgaria by the end of this year.

JCB is committed to strengthening its presence in Bulgaria and the rest of Eastern Europe, and to a stronger cardmember base in Europe. JCB's partnerships in Bulgaria include United Bulgarian Bank, and now, Transcard. The Transcard JCB card is expected to rapidly become a leading international credit card in the Bulgarian market.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit info.nice.comVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Metro Bank opens developer portalMetro Bank opens developer portal
9517 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
8908 views comments | 6 tweets | 14 linkedin
Citi to streamline corporate receivables with HighRadiusCiti to streamline corporate receivables w...
7851 views comments | 1 tweets | 5 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
7790 views 19 comments | 14 tweets | 29 linkedin
Banks stand to reap $512 billion revenue boost from 'intelligent automation'Banks stand to reap $512 billion revenue b...
7661 views comments | 21 tweets | 30 linkedin

Featured job

Competitive base, double ote, benefits
New York, Boston, Chicago, Philadelphia, USA

Find your next job