Saudi Arabia-based Alinma Bank has forged an acquiring agreement with Japanese payment brand JCB International (JCBI).

Under this partnership, Alinma Bank, through its point-of-sale (POS) and ATM devices deployed across the Kingdom, will enable the acceptance of JCB Cards.

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The development is in line with JCB’s plan to enter Saudi Arabia’s business and tourism market, serve the JCB cardholders travelling to the Kingdom for religious tours.

JCBI president and COO Yoshiki Kaneko said: “I am delighted that we have entered into this partnership with Alinma Bank for the acceptance of JCB cards.

“Saudi Arabia has always been a very important destination for many of JCB cardholders, from both a business and religious perspective.

“Alinma Bank’s extensive reach in the market will ensure that JCB cardholders will be able to use JCB Cards at their convenience.”

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The agreement is also part of the Vision 2030 plan to promote a cashless society and financial inclusion in the Kingdom.

Alinma Bank CEO Abdulmohsen Al-Fares said: “We at Alinma Bank are so pleased to partner with JCB, whose reputation for the quality and reliability of their services precedes them.

“Through this agreement, Alinma will deepen its commitment to continually enhancing its service offerings for its customers.

“Furthermore, this partnership will help Alinma support the kingdom’s ongoing progress toward the realisation of Vision 2030, as well as the enablement of daily life and business activities of those who visit the kingdom each year.”

Last month, Saudi Arabia’s commercial lender Riyad Bank collaborated with JCBI for card acceptance in the Kingdom.

Notably, in the same month, JCB joined forces with NTT Communications to conduct a demonstration test for the multifunctional JCB Mobile Wallet.