JCB International (JCBI), an international operations subsidiary of JCB, has teamed up with National System of Payment Cards (NSPK), a subsidiary of Central Bank of Russia, to issue co-branded Mir/JCB cards in Russia.
The co-branded cards will be able to access the Mir merchant network in Russia and JCB's global network with approximately 31.1 million acceptance locations.
Go deeper with GlobalData
Mir operates as the Russian national payment brand managed by NSPK, which was formed in 2015 to create the Russian national payment system infrastructure.
Gazprombank will be the first issuing bank of Mir/JCB cards. It is planning to begin issuing in August 2016. Other banks will follow the suit in the near future.
NSPK general director and chairman of the board Vladimir Komlev said: “The international development of the national payment system “Mir” is one of the priorities for the medium term and the beginning of issuance of MIR/JCB Card is an important event in this direction.
“Cooperation with JCB – one of the world's largest payment brands is expanding the geography of card acceptance ‘Mir’ abroad and the possibility of cardholders of national payment cards to pay for goods and services in other countries.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataJCBI deputy president Kimihisa Imada said: “The new card issuing partnership with NSPK offers JCBI the opportunity to expand the JCB brand in the Russian Federation, a market with a high potential for growth in both card issuing and merchant acquiring business, as the central bank is making progress on building the payments infrastructure.
“I am delighted that the partnership enables NSPK and JCBI to provide people in the Russian Federation with more attractive services such as JCB Plaza Lounges and other T&E services that embody the Japanese spirit of hospitality.”
