JCB International (JCBI), a subsidiary of the Japanese payment
brand JCB, and Equity Bank of Kenya have signed a merchant
acquiring license agreement to extend JCB card acceptance at the
bank’s merchant locations in South Africa, as well as Kenya,
Uganda, South Sudan, Rwanda and Tanzania.
Equity Bank of Kenya said it plans to start operations in South
Africa by December 2012.
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With the move, the Japanese card issuer and acquirer seeks to
reinforce its business on a global scale.
JCB said that the region has experienced an in-bound traffic of
travellers in recent years, both from a tourist and business
perspective, which lays out the potential for growth in the
acquiring market.
Koremitsu Sannomiya, president and COO of JCBI said:
“We see the African market as an area of potential growth for
JCB and of increasing importance for our cardmember base globally.
I am confident that Equity Bank will prove to be an excellent
partner as we expand our business across the continent.”
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By GlobalDataDr James Mwangi, CEO of Equity Bank Group, said:
“Our partnership with JCBI will further enhance convenience of
financial access while facilitating ease of international business
and travel for JCB cardmembers in Kenya and the wider
region.”
