JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced the signing of a license agreement with Sberbank of Russia, the largest bank in Russia, the Commonwealth of Independent States (CIS) and Central and Eastern Europe.
Sberbank agreed to start accepting JCB cards on the Sberbank nationwide POS terminal network in 2018.
Sberbank has the largest POS terminal network in the country. JCBI started card issuing business with several local banks in Russia in 2015 and the card member base has been expanding. The partnership with Sberbank of Russia will ensure that the JCB card members enjoy more convenience and increase JCB brand awareness and presence in the market.
Kimihisa Imada, President and COO of JCBI, said: "We are sure this arrangement will support our objective as a very active player in the payment industry in Russia. We believe our collaboration will contribute to the growth of card payments and provide greater convenience to JCB card members both in Russia and from all over the world."