|
|
|
|
|
RIYADH & TOKYO, July 21, 2020 - (ACN Newswire) - Saudi Payments, Saudi Arabian Monetary Authority (SAMA) subsidiary, and the operator of national payment network (mada), has partnered with JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co. Ltd., to enable the acceptance of JCB cards in the Kingdom as part of its policy in opening the way for global payment companies and systems to enter the local market in order to support its strategy to enrich the payments environment in the Kingdom and provide modern payment methods in a way that reduces cash and raising the level of competition in this sector, in addition to its consistency with the goals of Vision 2030 in serving religious visitors and tourists and providing them with various payment methods.
This partnership will enable mada network to accept JCB payments through the platform. This will facilitate local acquiring banks to accept JCB cards through their network of Point of Sale Terminals and ATM terminals deployed throughout Saudi Arabia and also provide greater convenience for JCB's growing cardholders in Islamic markets such as Indonesia.
As part of its commitment and confidence in the Kingdom's ever-expanding payments ecosystem, JCB will also be opening an office in Riyadh to develop and enhance its presence in the Saudi Arabian market.
"Saudi Arabia is the most significant market for JCB to expand the issuance of JCB cards in the Islamic region. Saudi Arabia is one of the most important travel destination for our cardholders. With the Kingdom's enhanced Vision 2030 strategy and the ever-increasing close ties between Saudi Arabia and Japan, I am delighted that we have entered into this partnership with Saudi Payments for the acceptance of JCB cards," said Mr. Yoshiki Kaneko, President and COO of JCBI. "Over the coming months we will be announcing partnerships with local banks to expand our acceptance infrastructure in Saudi Arabia, to cater for both the business and touristic needs of our cardholders."
Ziad Al Yousef, Managing Director of Saudi Payments said: "This partnership is vital step to enhance the digital payment infrastructure in the Kingdom, by providing more options for customers. At the same time, our partnership with JCB aims to enable mada network to accept JCB cards, which will be used through sale points. Based on this step, we seek to transform our society into a less cash dependent."
About Saudi Payments
Saudi Payments, a wholly owned subsidiary of the Saudi Arabian Monetary Authority, was founded to operate and develop all major national payment systems.
Since its establishment in 1991 under the name of the "General Department of Payment Systems" at the Monetary Authority, the real launch of Saudi Payments as a Company came in 2018 has played a vital role in enabling the public and private sectors to connect with domestic and international payment services, helping to develop the Kingdom's payment infrastructure.
Saudi Payments provides fast, flexible, and safe electronic payment services at low cost, through mada, Sadad, Esal and Sarie systems, enhancing the national electronic payment infrastructure and reducing cash transactions.
Saudi Payments supports the government's Financial Sector Development Program, a part of the Kingdom's Vision 2030 Program. Saudi Payments operates to international standards, connecting local and international service providers with payment networks, reducing the need for cash payments.
About JCB
JCB is a global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 34 million merchants as well as cash advance locations around the world. JCB cards are now issued in 24 countries and territories, with more than 140 million cardmembers. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. www.global.jcb/en/
For more information for media:
JCB
Kumiko Kida, Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@jcb.co.jp
SAUDI PAYMENTS
Showmer Alshowmer
External Communication Manager
Saalshowmer@saudipayments.com
T +966-11-8292000-2045
Topic: Press release summary
Source: JCB / Saudi Payments
Sectors: Cards & Payments
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
Latest Press Releases
GMG G-LUBRICANT Achieves 13.8% Fuel Saving in Major Australian Charity Rally
Nov 18, 2025 20:39 HKT/SGT
|
|
|
15th Asian Logistics, Maritime and Aviation Conference draws to successful conclusion
Nov 18, 2025 18:53 HKT/SGT
|
|
|
Kincora Commences Drilling at the Wongarbon Porphyry Project
Nov 18, 2025 18:29 HKT/SGT
|
|
|
DigiTech ASEAN Thailand & AI Connect 2025: The Gateway to Digital Transformation in Southeast Asia
Nov 18, 2025 18:00 HKT/SGT
|
|
|
Icarus' Future: A Miami-Born Campaign Telling COP30 Leaders Our Children's Future is at Stake - Just Won Seven LUUM Awards
Nov 18, 2025 08:00 HKT/SGT
|
|
|
Radisson Announces Exercise of Warrants
Nov 18, 2025 06:29 HKT/SGT
|
|
|
Mazda Begins Demonstration Experiment of Onboard CO2 Capture System
Monday, November 17, 2025 11:38:00 PM
|
|
|
Pushing Hydrogen Engine Technology to New Heights in the Super Taikyu Series Final Race
Monday, November 17, 2025 11:00:00 PM
|
|
|
Fujitsu launches business creation lab in collaboration with AWS Japan
Monday, November 17, 2025 10:41:00 PM
|
|
|
NTT DOCOMO Achieves Successful Outdoor Trial of AI-Driven Wireless Interface Toward 6G
Monday, November 17, 2025 10:05:00 PM
|
|
|
|
|
More Press release >> |
|
 |
|
 |
|
