JCB WORLD REPORT #45
Asia Commercial Bank Starts JCB Merchant Acquiring in Vietnam
A sia Commercial Bank (ACB), a leading commercial bank of Vietnam, has started opening its merchant network and also recruiting new merchants for JCB cardmembers. “In Vietnam, we believe this is an epoch-making event for JCB business, because Asia Commercial Bank is one of the most prominent and powerful major banks in terms of expanding JCB card acceptance in this country, and we have been eager to partner with ACB for years,” said Mr. Kenji Seto, President and COO of JCBI, at the press conference held in Vietnam. “Vietnam is an important market for JCB in terms of card acceptance, because every year more and more JCB cardmembers in Asia visit Vietnam. I am confident that our partnership is mutually beneficial for both our businesses, and I am looking forward to working with ACB for a prosperous future.” ACB, founded in 1993, is one of Vietnam's commercial banking groups offering a comprehensive array of financial services which include commercial banking, merchant banking, and credit and debit card services. Currently ACB has one of the largest credit card merchant networks in Vietnam.. Mr. Ly Xuan Hai, ACB's President Chief Executive Officer commented, “With burgeoning numbers of Japanese tourists and businessmen
here in Vietnam and a further influx from worldwide, especially Asian countries, we believe JCB card sales contribute to our merchants in Vietnam.” JCB has been building alliances with major banks and financial institutions to expand the JCB merchant network in Vietnam since 1991 when it signed a licensee agreement with Bank for Foreign Trade of Vietnam for JCB merchant acquiring. In addition to ACB, three other major financial institutions, United Overseas Bank, Australia New Zealand Banking Group, and Sai Gon Thuong Tin Commercial Joint Stock Bank, have been expanding JCB acceptance network in the country, With the opening of ACB's solid merchant network, JCB brand business will continue to grow in Vietnam, offering more convenience to JCB cardmembers from abroad.
At the signing ceremony: (from left) Mr. Ly Xuan Hai, President, Chief Executive Officer of ACB. Mr. Kenji Seto of JCBI.
JCBI Signs Agreement for Merchant Acquiring with Merchant Solutions
J CB International has signed an agreement with Merchant Solutions, the acquiring joint venture between global electronic payments processor First Data and Standard Chartered Bank, to enhance JCB card acceptance in Asia. Merchant Solutions will conduct JCB merchant acquiring in eight markets in Asia and will enable JCB cardmembers to use their cards at thousands of purchase points in Hong Kong, Macau, China, Singapore, Malaysia, Brunei, Bangladesh and Sri Lanka. "I am excited that JCB International's arrangement with Merchant Solutions will enhance JCB Card acceptance network further across Asia," said Kubo Masayuki, managing director, JCB International (Asia) Ltd. "With Merchant Solutions, our cardmembers travelling
across these Asian markets will be able to enjoy greater convenience than ever before." "Merchant Solutions is very pleased to have the opportunity to co-operate with JCB International and to expand its acquiring network to include JCB cards," said Sean Hesh, CEO and Managing Director of Merchant Solutions. "JCB is a major global payment brand with a solid cardmember base in Asia. This arrangement delivers improved merchant coverage for JCB cardmembers and increases payment options for our merchants, helping to drive their sales volumes.”
Planet Payment to Provide Processing Solution for JCB International in Hong Kong and Multi-Currency Solutions to JCB Merchants on an International Basis
J CB International signed an agreement with Planet Payment, a leading multi-currency and data processor, for processing support to JCB merchants located in Hong Kong. The agreement expands the relationship between Planet Payment and JCB International, which previously involved Planet Payment providing processing support to several JCB acquirers in Hong Kong. As part of this new arrangement, Planet Payment began providing back-end settlement and clearing processing for all merchants acquired directly by JCB International in Hong Kong in July 2009. In addition, in June 2009, JCB signed a licensing
agreement to allow Planet Payment to process JCB transactions for merchants accepting e-commerce, mail-order and other card-not-present transactions. The solution will also include support of Planet Payment's multi-currency solution, which provides JCB cardholders worldwide with the ability to view pricing and pay in the currency of their choice. Planet Payment expects the solution to be available in near future with an initial launch for merchants in the United States, followed by a rollout to other countries and regions.
JCB has Qualified Collis' New J/Smart™ and J/Speedy™ Personalization Validation Tool
J CB has qualified JCB J/Smart and J/Speedy personalization validation tool exclusively developed by Collis BV, the leading competence centre in the design and testing of smart card based electronic transaction systems. It marks another significant milestone in the efforts of both Collis and JCB to ensure high quality premium payment technology. Mr. Yuichiro Kadowaki, Senior Vice President of Global Infrastructure and Technologies at JCB, comments, “JCB is happy that Collis has completed the development of a personalization validation test tool supporting both J/Smart contact and J/Speedy contactless cards. JCB selected Collis for its professionalism and quality products and services. We strongly believe that the tool developed by Collis will pave an
efficient and trusted path for JCB partner issuers and their bureaus in expanding JCB products, and lead to strengthening the brand presence.” Mr. Rick Hsu, Managing Director, Collis Asia, comments, “Collis has been in partnership with JCB for several years, during which time a number of successful joint projects have been completed. The exclusive qualification of this tool not only proves Collis' commitment to quality, but also reinforces the strong relationship between Collis and JCB. With full coverage of JCB personalization validation test plan and easy integration with Collis EMV PVT, JCB issuers can now ensure global interoperability and production quality. This can be achieved through a built-in user- friendly graphical interface and a detailed validation report.”
Note: Job titles and departments are those at the time of the event.