Bank AlJazira has partnered with JCB International Co Ltd to launch JCB Acceptance through its POS and ATM network devices across Saudi Arabia, complementing Saudi Payments’ efforts to enhance the kingdom’s payment landscape.
Saudi Payments is an instant payment system owned by the Saudi Central Bank (SAMA), which enables international payment schemes to operate in the country.
The partnership will provide greater convenience for JCB’s growing cardholders in Islamic markets.
As a global payment brand and payment card issuer and acquirer in Japan, JCB Cards are used by 140 million cardholders and accepted at about 37 million locations globally.
The agreement also adds new channels of acceptance for the JCB branded cards in the Saudi market, and will enable visitors to the kingdom from various countries to use their cards through the POS and ATM network of Bank AlJazira in stores and outlets across Saudi Arabia.
Commenting on the partnership, the director and CEO of JCB Middle East LLC, Yuichiro Kadowaki, said: “Bank AlJazira is one of the leading banks in Saudi Arabia. I am delighted to expand our acceptance network of JCB Cards through the partnership with Bank AlJazira. This will help expand our business further in the kingdom.
“We look forward to this exciting opportunity as it is in line with the kingdom’s enhanced Vision 2030 strategy and the ever-increasing close ties between Saudi Arabia and Japan.”
The CEO of Bank AlJazira, Naif AlAbdulkareem, said: “JCB is a global payments brand that will add great value in increasing the payments acceptance in Saudi Arabia.
“In line with Saudi Central Bank strategy and Saudi Payments initiative to achieve 2030 vision, we are pleased to announce our partnership agreement with JCB which will enhance and enrich our business and satisfy the cardholders and merchants by providing our best payments solutions.”
The managing director of Saudi Payments, Abdulaziz Alafaleg, said: “Enabling JCB in the Saudi market is a remarkable milestone driven by the strategy of the Saudi Central Bank and helping the achievement of Vision 2030 goals.
“As part of our engagement to introduce advanced payment services and features across Saudi Arabia and continuous efforts to enhance the ecosystem’s competitiveness, the enablement of globally renowned international payment schemes such as JCB to operate in the kingdom emerges as an important driver to help us reach our endeavours to offer multiple options for Saudi’s residents and visitors.”
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