JCBI and Far Eastern Bank sign a new partnership on acquiring and issuing of JCB cards

JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co. Ltd, and Far Eastern Bank, one of the largest banks in the Russian Far East and Eastern Siberia, today announced the signing of a license agreement on acquiring and issuing of JCB cards.

According to the terms of the agreement, Far Eastern Bank will start accepting JCB cards on the bank’s ATM network and POS terminals, as well as issuing JCB cards. Far Eastern Bank has a wide network with more than 4,054 POS terminals and 311 ATMs located in the territory of the Far East and Eastern Siberia, and this network is constantly expanding.

YuichiroKadowaki, Senior Vice President, JCB International Co., Ltd., noted: “The new partnership with Far Eastern Bank, one of the leading financial institutions of Primorskiy Krai, is an important milestone for us taking into account the bank’s customer base and wide coverage of POS and ATM network in the Far Eastern region. We hope that the bank’s new JCB card product will become a convenient and advantageous payment tool for Russian business people and tourists who often visit Japan and other countries in the Asia-Pacific region. All these new customers will be able to enjoy JCB unique offers and privileges around the world. Acceptance of JCB cards on the bank’s POS and ATM network will help to expand the range of the bank’s services and to promote development of inbound tourism in the region. JCB cardholders traveling to the Russian Far East will feel more confident. Acceptance is also important for JCB cardholders in Russia, where JCB cards have been issued since 2015 and the number of cards is constantly growing.”

Valery Pavlyuk, President of PJSC Far Eastern Bank, emphasized: “The implementation of this project will provide the bank the opportunity to issue all types of JCB card products, which allow payment transactions both in Russia and abroad. Cooperation with JCB International is an important and logical step in the development strategy of the retail business of Far Eastern Bank. We were the first bank in Vladivostok to issue payment cards. For 28 years since our foundation we have maintained and strengthened our leadership. Today the number of cards issued by the bank exceeds 800 thousand, and we keep leading positions in the Far East and Eastern Siberia in terms of issuing cards of the National Payment System Mir. Cooperation with JCB International opens new opportunities for us and our customers, and we are confident of success.”

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