Welcome!

News Feed Item

Phongsavanh Bank to Start JCB Issuing and Acquiring in Laos

Vientiane and Tokyo, Nov 16, 2012 - (JCN Newswire) - Phongsavanh Bank Limited (PSVB), a major private commercial bank in the Lao People's Democratic Republic, and JCB International (JCBI), the international operations subsidiary of JCB, the only global payment brand based in Japan, today announced that they have signed a license agreement for issuing JCB cards and acquiring JCB merchants in Vientiane Capital, Lao PDR. PSVB will start both operations from 2013. The signing ceremony was held in Vientiane today.

Madam Sengdao Bouphakonekham, General Managing Director of PSVB, said "Our partnership with JCBI is the culmination of business discussions and market studies by both parties for the past year. We are very proud to be the first direct member of JCBI in Lao PDR. PSVB will also be the first and only bank in Lao PDR to issue JCB Cards at the time we start issuing in the next year. We believe that the JCB Brand has a unique flavor which caters for specific niche market segments in Lao PDR. And we aim to be a bank of choice for customers in this region."

Mr. Kimihisa Imada, Deputy President of JCBI, said "We are very pleased to be able to strengthen our business in Lao PDR through the partnership with Phongsavan Bank Limited", while emphasizing the importance of Lao market where increasing numbers of people are coming from countries where JCB has a solid cardmember base such as China, Korea, and Thailand. Imada also vigorously expressed JCB's target as "Becoming the top card brand in Laos in the next three years" by pursuing a unique position as a Japanese company.

Through this agreement, PSVB will start enabling its merchants to accept JCB cards around July 2013 as well as acquiring new merchants where JCB cardmembers likelyvisit, thus contributing to a much more comfortable payment environment for JCB cardmembers visiting Laos.

Both PSVB and JCB are scheduled to issue the first JCB credit card in Lao PDR by the end of 2013. The card product will heavily focus on "Japanese uniqueness", as Laotian interest in Japanese culture has been increasing in recent years. JCBI is also planning a wide variety of merchant promotions and other privileges for JCB cardmembers in Laos as well as customizing its existing promotions in Thailand specifically for Laotians, as Thailand ranks by far number one in Laotian international destinations.

About PSVB

Phongsavanh Bank (PSVB) is the first privately owned bank in the Lao PDR. It commenced operations in 2007 and currently has 21 branches and service centers throughout the country. PSVB aims to be the best local Bank in the Lao PDR with an extensive network and to provide world class banking services to individuals, corporate and government agencies. PSVB recognizes the need to invest in the most advanced technologies as well as human resources in order to build a strong foundation. For more information, visit www.phongsavanhbank.com .

About JCB

JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes over 22 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 16 countries and territories, with more than 77 million cardmembers. As part of its international growth strategy, JCB has formed alliances with more than 350 leading banks and financial institutions globally to increase merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, visit: www.jcbcorporate.com/english .

Note: JCB statistics included in About JCB are as of the end of March 2012.



Source: JCB

Contact:
JCB International Co., Ltd.
Ayako Tanaka, Masayasu Okada
Corporate Planning Department
Tel:+81-3-5778-8390
[email protected]
[email protected]


Phongsavanh Bank Limited
Tel: +856-21-711522, 711533, 215666
[email protected] 
 www.phongsavanhbank.com 


Copyright 2012 JCN Newswire. All rights reserved. www.japancorp.net

More Stories By JCN Newswire

Copyright 2008 JCN Newswire. All rights reserved. Republication or redistribution of JCN Newswire content is expressly prohibited without the prior written consent of JCN Newswire. JCN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, discussed key challenges and solutions to powering a ride sharing and/or multimodal model in the age ...