Friday, 27 July 2018, 15:00 HKT/SGT

JCB expands its acceptance network in Armenia

TOKYO, July 27, 2018 - (ACN Newswire) - JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., and ACBA-Credit Agricole Bank, one of the largest banks in Armenia, are pleased to announce that ACBA-Credit Agricole Bank has started JCB merchant acquiring operations across the country.

ACBA-Credit Agricole Bank, a leading bank in Armenia for agriculture financing, has begun servicing JCB cards in the acquiring network and in a network of self-service devices.

ACBA-Credit Agricole Bank includes 58 branches throughout Armenia, 1,400 POS-terminals, and has one of the most developed networks of ATMs in the country. The Bank provides innovative and effective financial solutions with an emphasis on the agricultural sector of the country.

JCB is one of the largest international payment brands. It has more than 110 million JCB card members in 24 countries and regions. Currently JCB cards are accepted at around 30 million merchants in the world.

Takashi Suetsugu, the General Director of JCB International (Eurasia) LLC commented: "The partnership with a leading financial bank of Armenia is a remarkable step forward for JCB to raise its presence in the CIS market. This is a significant moment for JCB card members around the world, especially for Russian JCB card members as Armenia is one of the key business and tourist destinations for Russians. In addition, as last year the visa-free regime for Japanese tourists was granted, a growing flow of tourists from Japan is also expected. The expanding of JCB card acceptance in Armenia will bring more benefits and convenience to JCB card members."

Hakob Andreasyan, the Chief Executive Director of ACBA-Credit Agricole Bank, commented: "We are glad to announce that ACBA-Credit Agricole Bank has started the servicing of JCB cards in Armenia. The whole ATM network of the Bank will soon be upgraded with the functionality to accept JCB cards and the merchants collaborating with the Bank in card servicing also have the opportunity to activate and accept JCB cards on the POS terminal devices installed in their stores. Before this an extensive acceptance of JCB cards like this was not possible in Armenia. This is a new stimulus for the development of tourism in Armenia, as tourists visiting Armenia can now freely make payments at Armenian merchants using their JCB cards, as well as withdraw cash using the Bank's ATM network and the branches. We are sure that our cooperation with JCB brand will bring a new level of convenience and opportunities for mutual customers."

About ACBA-Credit Agricole Bank

ACBA-Credit Agricole Bank is the exclusive representative of the American Express payment system in Armenia. The bank also issues and provides services for international VISA and MasterCard, as well as domestic ArCa payment cards. The bank gives an opportunity to manage accounts without visiting branches via ACBA Online system and ACBA Mobile application. The bank operates the following money transfer systems for individuals: MoneyGram, Unistream, Ria Money Transfer, Xpress Money, Sigue Money Transfer and Converse Transfer. ACBA-Credit Agricole Bank has 58 branches (including the head office): 17 in Yerevan and the rest in the 10 marzes of Armenia, and more than 170 ATMs in the entire territory of Armenia. Direct significant participants are "ACBA FEDERATION" CJSC - 72%, Credit Agricole Stock Company - 15.56% and SACAM International SJSC - 12.44%.

About JCB

JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. Currently, JCB cards are accepted globally and issued in 24 countries and territories. For more information, please visit: https://www.global.jcb/en/ or http://www.ru.jcb/ru/
Note: Statistics about JCB are as of June 2018.

Contact
Narek Asatryan
ACBA-Credit Agricole Bank CJSC
Marketing Communications Division
Tel: (+374) 77 70 04 97
Email: narek.asatryan@acba.am

Kumiko Kida
JCB Co., Ltd.
Corporate Communications Department
Tel: +81-3-5778-8353
Email: jcb-pr@info.jcb.co.jp

Topic: Press release summary
Source: JCB / ACBA
Sectors: Cards & Payments, Daily News, Local Biz
http://www.acnnewswire.com
From the Asia Corporate News Network