CIMB Niaga and JCB form partnership for card issuance and merchant acquiring

Source: CIMB Niaga

PT. Bank CIMB Niaga Tbk, the 5th Largest Bank in Indonesia and PT. JCB International Indonesia, a subsidiary of JCB International Co, Ltd., the international operation subsidiary of JCB Co., Ltd., are pleased to announce the commencement of partnership for credit card issuance and merchant acquiring business.

With growing number of Japanese business community and tourists visiting Indonesia, developing the merchant acquiring business in Indonesia will provide acceptance platform for JCB cards to be used within Indonesia. JCB and CIMB Niaga are due to launch the merchant acquiring business in July 2013 and are ready to accept JCB card as means of payment, starting with Jakarta and Bali as the first area to be focused. Having JCB as a new principal for credit card issuing business provides CIMB Niaga with more credit card products to target the affluent segments. With the strong presence of JCB merchants across East Asia, especially Japan, Korea and China, the new CIMB Niaga JCB Credit Card will provide benefits to the cardmembers since many of the cardmembers from this segment are traveling to those countries. CIMB Niaga and JCB will launch CIMB Niaga JCB Credit Card in early 2014. This credit card product will provide the cardholders with strong and interesting benefit in traveling, shopping and dining. "This partnership with one of the leading banks in Indonesia is a remarkable step forward for JCB to increase its presence in this market," said Hiroshi Terada, Director of JCB International. "CIMB Niaga is a rapidly growing bank with its card business by providing a variety of benefits to its customers, in particular, the ones catered to its premium customers, such as golf and fine dining. JCB can top them up with its unique worldwide services which will meet CIMB Niaga's customers' diversifying needs." Terada added, "The network of CIMB Niaga's selective merchants will provide more convenience to JCB Cardmembers visiting Indonesia from abroad as well as residing in Indonesia. As the number of JCB Cardmembers are sharply increasing in Asia, it will be a great benefit for CIMB Niaga's merchants to become able to better serve their customers by offering an additional payment option." He also said, "With the success of this partnership, we would really like to broaden tataden the partership with CIMB Group to cover the whole ASEAN region." Samir Gupta, Consumer Banking Director of CIMB Niaga said, the partnership with JCB has shown CIMB Niaga's commitment to serve our consumer segment with more and more innovative products. Currently, CIMB Niaga is one of Indonesian banks which established a Japan Desk and is one of the fastest growing banks to develop the business with Japanese counterparties. And with the strong presence of JCB Credit Cards across East Asia, especially in Japan, China and Korea, it has been the reason why CIMB Niaga is eager to develop the partnership with JCB in Indonesia. "On the other hand, with the rapid growth of travel industry in Indonesia and more and more Indonesians traveling across those countries, JCB Credit Card will be a suitable product to be introduced to this segment. I believe with this CIMB Niaga and JCB can work and grow the business together in this partnership" said Samir. Samir added that the partnership between CIMB Niaga and JCB would hopefully increase the CIMB Niaga's awareness within credit card industry and would increase the number of credit card holders and CIMB Niaga card portfolio.

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