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January 25, 2016

JCB partner with China CITIC Bank to launch first virtual card in China

JCB International in collaboration with China CITIC Bank has launched the first JCB virtual cards for online shopping customers in China.

By Verdict Staff

JCB International in collaboration with China CITIC Bank has launched the first JCB virtual cards for online shopping customers in China.

The new virtual card adds to the bank’s existing JCB brand lineup of Standard, Gold and Platinum grade MS. MAGIC Card and the Ultimate Card.

JCB International said that the new virtual cards derived from plastic cards have four advantages: immediately available after application for membership, the card usage limit in conjunction with plastic cards, purchase management for online shopping and secure and safe online payment.

The bank will issue up to 20 virtual cards per year to each customer via the internet, Wechat or smartphone app. To ensure secure payment for online shopping, a security code (CAV2) is set for each card.

JCBI deputy president Kimihisa Imada said: "Virtual cards minimize the risk of card information being stolen and help prevent fraud. One of our most important missions is to provide a secure payment environment, and we will continue to work on doing that in cooperation with CITIC and other partner financial institutions in international markets."

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