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First JCB card in Laos introduced by Phongsavanh Bank



Vientiane and Tokyo, Feb 5, 2014 - (ACN Newswire) - Phongsavanh Bank Limited (PSVB), a major and the first private Lao commercial bank in the Lao People's Democratic Republic (Laos), and JCB International (JCBI), the international operations subsidiary of JCB Co., Ltd., today announced that PSVB has launched the first JCB credit card in Laos. PSVB now issues JCB credit card to the Lao people who can enjoy JCB's global merchant network with over 24 million locations globally. Laos is the 3rd country in the Mekong region for JCBI to issue JCB cards following Thailand and Vietnam.

Phongsavanh / JCB Credit Card design is consisted of a mixture of Lao and Japanese traditional images, and cardmembers can enjoy discount promotion at over 20 merchants, including famous Japanese restaurants and Japanese cosmetic product retailers, from February to June 2014. Information of the promotion can be found in "JCB Vientiane Promotion Map," available at some merchants and major hotels.

In a launching ceremony held on 5 February, Madam Sengdao, Managing Director of PSVB, said, "We are proud to be a member of JCBI and to be the first bank to issue JCB card in Laos. With today's launch, PSVB will access JCB's products and services to create a strong, sustainable and profitable business. Phongsavanh / JCB Credit Cards will offer consumers new payment options, greater convenience when making payments and a wide range of cardmember benefits."

Mr. Kimihisa Imada, Deputy President of JCBI, said, "It is important for us to have such a strong partner as PSVB in the market which is becoming an important cross point in the Mekong region in terms of economy. I believe there is the cordial relationship between Laos and Japan and huge growth potential in the card market along with its economic growth." He also said, "JCBI and PSVB will bring new values to the market with attractive benefits and establish a strong business presence in Laos."

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 24 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 82 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 September 2013.

Source: JCB

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




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