TOKYO & SINGAPORE, Feb 15, 2024 – (JCN Newswire) – JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd. (JCB), is pleased to announce the acceptance of JCB Cards on the merchant terminals of Maybank Singapore Limited (Maybank), one of Asia’s leading banking groups, in Singapore. With this latest development, JCB Cards are now being accepted in three of Maybank’s key markets: Singapore, Malaysia and Indonesia.
Singapore is one of the key travel destinations in Southeast Asia, and its inbound tourist arrivals hit 13.6 million in 2023[1]. In addition, tourists from Japan, major ASEAN countries and territories, Taiwan and India account for approximately 42% of Singapore’s inbound tourists in 2023[1].
Those countries and territories coincide with JCB’s strengths in its card issuance base. While JCB has more than 156 million cardmembers across the world, JCB’s growth in ASEAN regions, Taiwan and India have seen an extraordinary rise in the last few years. In ASEAN regions, JCB experienced an exponential growth of 232% in card base from 2018 and 2023. In Taiwan, there are currently 29 banks issuing JCB Cards, and in India, there are approximately 1 million RuPay JCB Cards since its launch two years ago.
Ms Tessa Er, Head of Cards and Personal Loans Maybank Singapore, said, “We are very pleased to partner with JCB as we continue to serve and enhance the payment convenience for customers. As inbound tourism continues its growth momentum, we look forward to enabling more customers to spend on experiences that matter most to them with ease.”
“Maybank and JCB have a long history of collaboration in Malaysia and Indonesia. In addition to card acceptance, Maybank also issues JCB Cards in Indonesia. We are therefore grateful to be able to extend our cooperation to Singapore. The acceptance of JCB Cards at Maybank merchant terminals will provide our cardmembers with further convenience when travelling to Singapore. We look forward to deepening the relationship between the two companies through further successes in the near future”, said Hiroko Michishita, Managing Director, JCB International Asia Pacific.
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 46 million merchants around the world. JCB Cards are now issued mainly in Asian countries and territories, with more than 156 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/
Contact
Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@info.jcb.co.jp
[1] As of 2023. Source: STB
