Mongolia’s government-run lender State Bank has joined forces with JCB International (JCBI) to issue JCB debit cards in Mongolia.
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The partnership will enable people of Mongolia to access JCB’s global merchant network with nearly 29 million acceptance locations.
State Bank CEO D Batsaikhan said: "State Bank has started to accept JCB cards through Bank of Mongolia since March 2014. Since then, we have stepped up our partnership to the next level as the first issuer of JCB card in Mongolia.
"It is a great honour for us to have such a world brand as a partner. We are aiming to provide services to the tourist and travellers on business from both countries and also for the Mongolian people who are living and studying in Japan."
JCBI deputy president Kimihisa Imada added: "The new card issuing partnership with State Bank offers JCBI the opportunity to launch the JCB brand in Mongolia, a market with a high potential for growth in both card issuing and merchant acquiring business, as the central bank is making progress on building the payments infrastructure.
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By GlobalData"I am delighted that the partnership enables State Bank and JCBI to provide people in Mongolia with more attractive services such as JCB Plaza Lounges and other T&E services that embody the Japanese spirit of hospitality."
