- Global payment brand aims to grow its card user base 30-fold over five years
TOKYO & MUMBAI (ACN Newswire) -
JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., Japan's international payment brand, has announced a milestone one million RuPay JCB Global Cards in India. RuPay JCB Global credit and debit cards can be used at RuPay accepting points in India and JCB accepting points outside India for PoS, ATM, and E-Commerce. This was the first ever JCB brand card issued in India.
A 3-fold increase in RuPay JCB card issuance was reflected by growth in card usage, and international transactions which grew 8-fold between April and December 2022. This is expected to continue given the 40% cashback campaign for in-store transactions available to RuPay JCB cardmembers in Singapore, Thailand, and Bahrain. The maximum cashback per transaction is 3,000 INR and cashback per card is 15,000 INR within the campaign period from December 29 until March 31, 2023.
This was the second such campaign, as RuPay JCB offered an identical 40% cashback campaign for in-store merchant transactions in UAE, Qatar, and Australia from October 1 to December 31, 2022. This campaign also led to a significant increase in transactions, and was favorably accepted by JCB's merchant network, and cardmember base. In addition, there have been on-going offers in various countries, in categories such as retail stores, restaurants, hotels and transportation.
Mr. Yoshiki Kaneko, President & COO, JCB International Co., Ltd. said, "The one million RuPay JCB issuance milestone is testament to our NCPI partnership, which will continue to grow in the coming years. India is a key market for JCB with enormous potential, given the aspirational, vibrant young consumers who especially enjoy international travels and experiences. We are confident that the RuPay JCB Card, which comes with many benefits including international airport and JCB PLAZA Lounge access as well as offers, discounts, and cashback savings for cardmembers, will be enjoyed during travels from India. We continue to invest in our Indian business and ensure with our esteemed partner NPCI that our issuers have access to best-in-class technology to create ground-breaking products."
About JCB JCB is a major global payment brand and leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961, expanding worldwide in 1981. Its acceptance network includes almost 41 million merchants around the world, serving more than 150 million cardmembers. JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB is committed to providing responsive and high-quality services and products to all customers worldwide. JCB, 'Uniquely yours'. www.global.jcb/en/
About RuPay RuPay is a first-of-its-kind domestic Card payment network of India, with wide acceptance at ATMs, POS devices and e-commerce websites across the country. The name, derived from the words 'Rupee' and 'Payment', emphasizes that it is India's own initiative for Card payments. RuPay is a product of NPCI, the umbrella organisation that powers the country's retail payments. During its journey for past years, RuPay has had a significant impact on the retail payment systems in the country, launching diverse card variants catering to the different segments of society. Visit www.rupay.co.in.
