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JCB International signs License Agreement with Redeban Multicolor S.A. to start the acceptance of JCB cards in Colombia



Bogota and Tokyo, June 9, 2014 - (ACN Newswire) - JCB International Co., Ltd. ("JCBI"), the international operations subsidiary of JCB, and Redeban Multicolor S.A. ("RBM"), the largest merchant acquirer in Colombia, are pleased to announce that they have signed a License Agreement for building a JCB card acceptance network in Colombia. With this arrangement, JCB cards will be accepted at all 200,000 RBM merchants throughout Colombia starting in early 2015.

JCBI has been increasing its presence in South America by expanding its merchant network. Currently, JCB cards are accepted at about 27 million merchants worldwide and around 1.5 million in major South American countries. Now, JCBI plans to start issuing JCB cards in Brazil, the neighbor of Colombia, in 2014. This partnership with RBM will improve card acceptance for all JCB cardmembers visiting Colombia and make a contribution for the issuance of JCB cards in Latin America.

RBM, established in Bogota in 2000, is the largest merchant acquirer both in number of transactions and billed volume in Colombia and has around 200,000 merchants in the country.

Mr. Kimihisa Imada, Deputy President of JCBI, said, "South America has been attracting a great deal of world attention as an emerging market with high potential. As JCB cards will be issued in Brazil, broad JCB card acceptance in Colombia will be essential to cater to the demand of such cardmembers, as well as visitors from worldwide carrying JCB cards. Also, we believe that the RBM's acceptance network is important for a potential card issuing business in Colombia. JCBI is honored to team up with the Colombian market leader, RBM, and we look forward to working closely together in order to bring benefit and convenience to both JCB cardmembers and RBM merchants."

Mr. Enrique A. De Rosa B., Chief Executive Officer of RBM, said, "As the largest payment solution provider in Colombia, we have the honor to welcome JCB as a new brand in Colombia. We believe that with this partnership, RBM will be able to strengthen the service line-up for the customers. We are excited to capture transactions which will be generated by worldwide JCB cardmembers and particularly by Brazilian and Asian cardmembers, crucial markets for the development of Pacific Alliance, in which Colombia is one of its founder's members."

About Redeban Multicolor S.A.

RBM was established in 2000 by some Colombian banks, and now is a corporation, whose shareholders are 11 major financial entities, in addition to 24 financial entities, which are main users (not shareholders) of RBM in the Colombian territory. RBM facilitates and simplifies methods of electronic payments, transactions and digital information in both financial and non-financial areas. RBM is a network administrator of more than 200,000 affiliated merchants which accept debit and credit cards. RBM guarantees the customers innovative, reliable, secure and opportune transactions and other services. For more information, visit: http://www.redebanmulticolor.com.co/portal/page/portal/indexcol/index (Spanish only)

About JCB

JCB is a major global payment brand and a leading payment 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 about 27 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 84 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 providing responsive and high-quality service and products to all customers worldwide. For more information, visit: www.jcbcorporate.com/english

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

Redeban Multicolor S.A.
Maria Antonieta Jaramillo
Phone: +571 307 7110 ex 1321
Email: [email protected]

Source: JCB

Copyright 2014 ACN Newswire. All rights reserved.

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