Japan-based credit-card provider JCB International is planning to expand its business in frontier markets in the Greater Mekong Subregion (GMS), which has huge growth potential, by assigning JCB International (Thailand) as the centre of operations.
GMS countries include Myanmar, Vietnam, Laos, Thailand, Nepal and Bhutan.
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JCB International currently has a total of 84 million cards, which are issued in 17 countries across the globe.
JCB International managing director Naoya Michishima said the GMS had become more of a focus for the group due to its population size and growing economic strength.
Michishima also noted that other markets, where JCB International has a footprint in East Asia, have reached a stage of mature growth.
Among the GMS countries, Thailand is the key focus as JCB already issued over 19 million credit cards in the country.
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By GlobalDataMichishima said JCB International sees room for growth in the Kingdom, as more Thais travel to Japan, the two countries have a good relationship, and that the local focus would be on the Japanese tourism and dining categories.
