JCB International (JCBI), the international operations subsidiary of JCB, has partnered with State Bank, a government-run bank in Mongolia, to issue JCB branded cards in Mongolia.
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The bank plans to issue debit card in spring 2015. This will mark the first JCB card issuance in Mongolia.
Kimihisa Imada, deputy president of JCBI, said: "The new card issuing partnership with State Bank offers JCBI the opportunity to launch the JCB brand in Mongolia, a market with a high potential for growth in both issuing and acquiring business, as the central bank is making progress on building the payments infrastructure.
"I am delighted that the partnership enables State Bank and JCBI to provide people in Mongolia with more attractive services such as JCB Plaza Lounges and other T&E services that embody the Japanese spirit of hospitality."
D Batsaikhan, CEO of State Bank, said: "State Bank has started to accept JCB cards in 270 ATMs, 1,600 merchants and 540 branches through Bank of Mongolia since March 2014. Since then, we have stepped forth our partnership to the next level as the first issuer of JCB card in Mongolia. It is a very honour for us to have such a world brand as a partner.
"We are aiming to provide services to the tourist and travellers on business from both countries and also for the Mongolian people who are living and studying in Japan. We would like to offer services which will match the needs of the customers with JCB cards between two countries, which can provide more worthwhile services to our customers."
