JCB International, the Japanese credit card company, has signed a license agreement with Russian lender Gazprombank (GPB) for issuing credit cards and acquiring business.
As part of the agreement, Gazprombank will issue JCB cards in March 2015 which will be processed by the localized Russian payments system, JSC NPCS.
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JCB and NPCS have entered into an agreement in November 2014, for issuing of three million payment cards jointly with Russian banks by the end of 2016.
Gazprombank first vice president Valery Seregin said: "The implementation of the project with JCB International will provide the Bank an opportunity to issue all types of JCB cards, and will enable our customers to make transactions on the territory of Russia and using one million ATMs and more than 26 million merchants in 190 countries worldwide, as well as to accept JCB cards in the merchants’ network using the acquiring services of Gazprombank."
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