Japanese card network JCB International (JCBI) has opened
its first branch in Brazil, as part of its continuing global
expansion strategy.
The new branch – JCB International do Brasil
Representação Comercial – is the first JCBI subsidiary in Latin
America and the network said it will kick-start the expansion of
JCB card issuing and merchant acquiring business across 12
countries in the continent.
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Only last month JCBI had acquired licence from
Equity Bank of Kenya, to expand operations in South Africa, Kenya,
Uganda, South Sudan, Rwanda and Tanzania. In 2011 it opened its
first Middle East office.
JCB started building its presence in Brazil
back in 1985, with a merchant acquiring partnership with Bradesco
Turismo in Brazil, followed by a 1997 agreement with VisaNet Brazil
(since rebranded Cielo). JCBI said its cards are already widely
accepted in Latin America.
“South American economies are growing
rapidly,” said JCB International do Brasil Representação
Comercial president Naotaka Yazawa.
“We believe that we can build a large
cardmember base and merchant acceptance network in the region in
the near future by focusing on strengthening relationships with our
existing and potential partners.”
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