Tokyo, Japan, January 18, 2006 - JCB, the only Asia-based international payment brand, is pleased to announce that PaySquare B.V., a major party for issuing and acquiring of international payment products and services based in the Netherlands, will begin JCB merchant acquiring in the Netherlands in January 2006, to be followed by Belgium in March. PaySquare was granted a license for merchant acquiring in the Netherlands, Belgium, and Luxembourg by JCB International Co., Ltd. in September 2005.
PaySquare boasts the largest merchant network in the Netherlands, and will benefit from adding JCB to its brands in order to start acquiring business in Belgium and Luxembourg. PaySquare was originally a business unit of Interpay Nederland B.V. until June 1 2004, when it became an independent, wholly-owned subsidiary.
"PaySquare's comprehensive merchant coverage in the Netherlands and the start of its acquiring business elsewhere in Benelux will significantly enhance JCB card acceptance in the region and contribute to increasing convenience for JCB cardmembers", said Mr. Hajime Matsuura, Branch Manager at JCB International (Amsterdam branch). "Our partnership with PaySquare marks an important step in further developing our merchant network in markets around the world."
Japanese tourists to the Netherlands numbered 164,000 in 2004, 19.8% more than the previous year, according to the Japan National Tourist Organization In addition, this year's Rembrandt 400, a year-long series of events and special exhibits celebrating the 400th anniversary of the painter's birth, is expected to draw many more visitors from Japan and the rest of Asia this year.
"Benelux is attracting increasing numbers of Asian tourists and business travelers", said Mr. Jeroen Jungerius, Manager Commercial Affairs Acquiring at PaySquare. "Our partnership with JCB enables us to help our merchants benefit from this opportunity to increase sales, and to take advantage of new world travel trends."
The JCB brand has had a presence in the Netherlands since 1983 with JCBI's Amsterdam branch office conducting acquiring operations, which will now be transferred to PaySquare under the license agreement. The acquiring partnership with JCB gives PaySquare a new foothold toward expansion in Belgium and Luxembourg, in addition to the Netherlands. JCB anticipates steady growth in JCB card acceptance in the Benelux region, strengthening brand presence and providing greater value and convenience to JCB cardmembers.
PaySquare is the specialised partner for acquiring and issuing international payment instruments and market leader in the Netherlands. In addition to issuing a broad range of MasterCard and Visa credit cards, PaySquare is also licensed to acquire MasterCard, Visa, JCB, China UnionPay, Maestro and - thanks to a unique partnership - American Express. As a result, businesses can rely on a single organisation for the acceptance of all the above products. This makes PaySquare the first credit card organisation in the Benelux to offer such a range of international payment instruments as well as to respond to the growing number of Asian tourists. PaySquare support includes a broad range of services and products, adapted for each specific situation. PaySquare is a 100% subsidiary of Interpay Nederland B.V. and is located in Utrecht. PaySquare is able to operate from an independent position, while continuing the many years of experience and expertise of Interpay Nederland B.V.www.paysquare.nl.
JCB is an international credit card brand and the largest card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding overseas in 1981. Its merchant network includes 13.2 million merchants and spans 190 countries and territories. JCB cards are now issued in 19 countries and territories, with 55.99 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. JCB's corporate philosophy of "Service from the heart", a commitment to responsive and high-quality service, continues to guide it as it creates the future together with its customers, merchants and partners. For further information, please visit the JCB home page at: www.jcb-global.com/english or www.jcbcorporate.com/english.