JCB Makes inroads in Brazil with Caixa alliance

Source: JCB

JCB International ("JCBI"), international operations subsidiary of JCB, the only global payment brand based in Japan, and Caixa Economica Federal ("CAIXA"), the largest public sector bank in Latin America, are pleased to announce the signing of an agreement for the issuing of JCB cards in Brazil aiming to start in April 2014.

Starting with credit cards for a total of 5 million accounts in the next 3 years, CAIXA plans to add debit and prepaid JCB brand cards in the near future.

JCB is a global payment brand with over 24 million merchants and 80 million cardmembers around the world. In Brazil, with a partnership with Cielo, Brazil's largest credit card acquirer, JCB card is now accepted at all of the more than 1.2 million Cielo merchants, representing almost every credit card accepting merchant in Brazil.

CAIXA has a nationwide network of branches in every city, town and village in the country with 60 thousand service locations (branches, ATMs, and lottery offices) and has issued a total of 87 million credit and debit cards. CAIXA also has relevant participation in the Brazilian bank market, making fundamental contributions to urban development and social welfare, and always looking for new opportunities to offer the best services to its customers.

Koremitsu Sannomiya, President & COO of JCBI, commented, "Brazil has become the focus of world attention by hosting the 2014 FIFA World Cup and the 2016 Olympic Games, and we anticipate the payment market to grow in this country. We are taking this opportunity to increase JCB brand awareness in the region as a whole by providing our unique value to our new partner, CAIXA, which has strong appeal for the middle-income class that continues to expand."

Fabio Lenza, Vice President of CAIXA, said, "As the payment card market grows, consumer demand for a wide variety of payment schemes including credit, debit and prepaid will increase. We look forward to launching new products and services with the unique JCB brand value that has been built in Japan and the rest of Asia."

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