Russian Natioanl Payment Card System (NPCS) has teamed up with Japan Credit Bureau (JCB), Japan’s payment system, to issue co-badged cards.
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Dubbed Mir-JCB, the new card will be accepted at all points across the globe where JCB cards are, with the same rule applying to JCB cards in Russia. The cards are expected to be issued in 2016.
NPCS said that the partnership with the Japanese payment system will provide Mir-JCB bank cards access to the infrastructure of JCB worldwide, including Asia, where JCB has been strong and had wide network of card acceptance.
Further, NPCS stated that co-badging the Mir-JCB card will work in the infrastructure of the Mir payment system as a Mir bank card; in the JCB infrastructure, outside of Russia, as a JCB card.
The national payment card system started its operations in Russia this year after US payment providers Visa and MasterCard stopped servicing some Russian banks to adhere to US sanctions amidst Moscow’s annexation of Crimea.
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By GlobalData
