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Equity Bank of Kenya to start JCB Merchant Acquiring in South Africa
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Equity Bank, a major financial institution in Kenya, and JCB International (JCBI), the international operations subsidiary of JCB, the only global payment brand based in Japan, today announced that Equity Bank and JCBI have signed a merchant acquiring license agreement. Through this agreement, Equity Bank will phase in facilitating JCB card acceptance at all Equity Bank merchant locations in Kenya, Uganda, South Sudan, Rwanda and Tanzania. Equity Bank plans to start operations in December 2012.
Mr. Koremitsu Sannomiya, President and COO of JCBI stated, “This is an affirmation of JCB's commitment to develop its business on a global scale. We see the African market as an area of potential growth for JCB and of increasing importance for our cardmember base globally. I am confident that Equity Bank will prove to be an excellent partner as we expand our business across the continent."
“We are pleased to partner with JCBI as a licensed acquirer of JCB cards in Eastern Africa," said Dr. James Mwangi, CEO of Equity Bank Group, “Our partnership with JCBI will further enhance convenience of financial access while facilitating ease of international business and travel for JCB cardmembers in Kenya and the wider region."
JCBI has seen the growth of in-bound traffic of travellers into the region in recent years both from a tourist and business perspective. JCBI is looking forward to working even more closely with its partners in the region to ensure that the JCB card acceptance network will continue to grow, providing more convenience and services to JCB cardmembers from around the world.
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