JCB International has formed a strategic partnership with National Payments Corporation of India (NPCI) to accept JCB cards at all acceptance locations under the NPCI network, which has one million card merchants and 200,000 ATMs across India.
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The partnership will also cover the issuance of RuPay/JCB international cards by NPCI member banks that are globally accepted through the JCB network, which has around 29 million JCB card merchants as well as ATMs across the world.
The deal will include the acceptance of JCB cards at NPCI merchants including both retail point-of-sale and ecommerce and ATMs.
The alliance aims to expand JCB card’s acceptance coverage in India to 100% for card merchants and ATMs.
Under the partnership, both the companies are planning to launch JCB acceptance business in India in mid-2016 and RuPay/JCB international card issuing business later the same year.
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By GlobalDataNPCI managing director and CEO A P Hota said: "Through the partnership with JCBI, NPCI can now offer new international RuPay cards with the JCB brand which are widely accepted throughout Asia where JCB has a strong presence in terms of card merchant network as well as exclusive privileges for its cardmembers.
"The new card, RuPay/JCB international card, will work as RuPay card in India and work as JCB card outside India. The NPCI-JCBI strategic partnership would be marked as a key milestone in the Asian payment ecosystem."
JCBI deputy president Kimihisa Imada said: "The acceptance level of JCB cards in India will increase significantly and it will provide a seamless and convenient consumer experience for JCB cardmembers as all the card merchants and ATMs in the country will accept JCB cards.
"We are confident that the issuance of RuPay/JCB international card will contribute to the Financial Inclusion promoted by the Indian government and NPCI."
