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PrivatBank, the Ukrainian state-owned bank, and JCB International Co., Ltd. (“JCBI”), the international operations subsidiary of JCB Co., Ltd., announced that they signed a License Agreement for building the JCB card acceptance network and to start JCB merchant acquiring operations in Ukraine on October 31 in Tokyo.
All JCB cardmembers travelling to Kiev and other cities will be able to use their JCB cards for purchases at merchants and for cash advances at ATMs of PrivatBank throughout Ukraine planning in spring 2020.
This partnership will allow both the merchants affiliated to PrivatBank to add a new brand as an incremental sales opportunity, and JCB to offer its over 130 million cardmembers wide acceptance in Ukraine.
According to the Economic Development and Trade Ministry of Ukraine 14,200,000 travelers visited Ukraine in 2018 and it was forecast that the number of visitors would increase to 17,000,000 in 2019.
PrivatBank is the leading bank with a wide network of merchants and ATMs in Ukraine. The PrivatBank network in Ukraine comprises over 7,300 ATMs, its acquiring network has expanded to 200,000 POS-terminals, most of which are contactless.
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. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member 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, please visit: http://www.global.jcb/en/.