Thursday, 13 April 2023, 14:00 HKT/SGT

Source: JCB

RIYADH & TOKYO, Apr 13, 2023 - (JCN Newswire) - As part of its continuous efforts to develop electronic payment services, the Saudi National Bank and JCB agreed the acceptance of the JCB Card through about 306,351 POS and 3,088 ATMs across the Kingdom of Saudi Arabia.

This came as a result of a partnership agreement signed between the Saudi National Bank (SNB) and JCB International Co. Ltd., the international operations subsidiary of JCB Co. Ltd., Japan's only international payment brand. The partnership will provide greater convenience for JCB's growing cardholders in the middle east markets to benefit from the usage of their JCB Cards throughout the Saudi National Bank POS and ATM network across the Kingdom.

This step will allow JCB cardholders visiting the Kingdom, whose numbers are increasing in the global markets, to carry out financial operations with greater ease, safety, and comfort. Realizing the importance of moving the customer experience towards new horizons of excellence with the best global banking solutions, it is an important step in the Bank's relentless endeavor to enrich the customer experience, and in cultivating this partnership for enhancing financial inclusion in line with the Saudi Vision 2030.

Mr. Ahmed Bassam Abu Khamsin, Head of Global Transaction Banking at the Saudi National Bank commented on this partnership: "As a leading Saudi Bank, we always aspire to build strategic partnerships with significant international organizations to cope up with technology, support the Saudi Vision 2030 agenda, and meet our customers' needs. The Saudi National Bank is a primary banking service provider and such partnership will help JCB penetrate the Saudi market."

Commenting on this partnership, Mr. Yoshiki Kaneko, President and COO of JCB International Co., Ltd. said: "Saudi Arabia is one of the most important travel destinations for our cardholders. Given the evolving strategy of the the Saudi Vision 2030, and in line with the growing relationship between the two countries, we are pleased to sign this partnership with the Saudi National Bank, one of the largest banks in the region, to allow the acceptance of JCB Cards inside the Kingdom. This partnership will serve business and tourism requirements of our cardholders."

It is noteworthy that the Saudi National Bank (SNB) banking services are widespread and accept a wide range of international payment and credit cards, in addition to JCB Cards, Japan's only international payment brand with more than 150.5 million cards issued around the world.

About JCB

JCB is a major 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 41 million merchants around the world. JCB Cards are issued mainly in Asian countries and territories, with more than 150 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

About The Saudi National Bank (SNB)

The Saudi National Bank (SNB) is the largest financial institution in Saudi Arabia and one of the largest powerhouses in the region. SNB plays a vital role in supporting economic transformation in Saudi Arabia by transforming the local banking sector and catalysing the delivery of the Saudi Vision 2030. Its strategy is closely aligned with the Saudi Vision programs. The Saudi National bank also leverages its position as the largest institutional and specialized financier in the Kingdom to support the Kingdom's landmark deals and mega projects. The Saudi National Bank (SNB) vision is to be a primary financial and banking service provider locally and regionally through achieving strategic aspirations to have the highest revenues, profit, customer service, digital banking, the employer of choice, and the best Shariah-compliant products service provider in the world. For more information, please visit: https://www.alahli.com/

SNB:
Muhannad AlOmari
Corporate Relations
Tel: +966-11-811-2404
Email: Muhannad.Al-Omari@alahli.com

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

Topic: Press release summary
Source: JCB
Sectors: Cards & Payments, Daily Finance, Daily News, Regional, Local Biz, FinTech
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