September 21, 2017

JCB to open Yangon Branch

JCB and MPU agreed in March to issue cards in Myanmar. Photo: Supplied by JCB
JCB and MPU agreed in March to issue cards in Myanmar. Photo: Supplied by JCB

JCB International is cooperating with Myanmar Payment Union banks to issue JCB cards by the end of 2016 or as soon as next year, according to a press release from the group. As well  as this partnership JCB is establishing a branch in Yangon under the subsidiary JCB International (Thailand) Co. Ltd.
JCB will be working with Ayeyawady Bank and Co-operative Bank. Naoya Michishima, Managing Director of JCB International (Thailand), said, “I am excited to have a new branch in Myanmar, which is one of the fastest growing countries in Asia. With this launch, now we will be able to build even closer relationships with our partners and develop our business in the Mekong region,”
Adding, “We have been making efforts to provide support to the expansion of the Myanmar payment market in cooperation with MPU. I am confident that the issuance of MPU/JCB card in summer 2016 will grow the market even further and will contribute to the financial inclusion promoted by the government.” 31 million merchants in 190 countries are in JCB’s network with more than 95 million card members; they have also formed partnerships with 350 world-leading banks and financial institutions. The company launched its card business in 1961 and began expanding in 1981 worldwide.—GNLM

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