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JCBI Opens Office in Brazil
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11 July 2012 - JCB International Co., Ltd., the international operations subsidiary of JCB, the only global payment brand based in Japan, is pleased to announce that JCB International do Brasil Representacao Comercial Ltda., founded in March 2012, began operations in Sao Paulo, Brazil on July 1, 2012. The new company, the first JCBI subsidiary in South America, is responsible for expanding JCB card issuing and merchant acquiring business with partners throughout 12 countries in the continent.
JCB has been building a presence in South America since 1985 when it started a JCB merchant acquiring partnership with Bradesco Turismo in Brazil. In 1997 Cielo (formerly VisaNet Brazil) and JCBI signed a merchant acquiring agreement with over 1 million merchants in Brazil accepting JCB cards today. Despite the physical distance between Brazil and Japan, both countries have a strong relationship going back 104 years to 1908 when the Kasato Maru brought the first wave of immigrants from Japan. There are more than 1.5 million Brazilians of Japanese ancestry, the largest overseas Japanese community in the world.
JCB card is also widely accepted in other South Amerian countries. In Argentina and Uruguay, JCBI entered into the merchant acquiring agreement with First Data Argentina (formerly Argencard) in 1988, and JCB cards are now accepted at most of credit card accepting merchants. In Peru, VisaNet Peru has been JCB's acquiring partner since 2003.
Naotaka Yazawa, Diretor Presidente of JCB International do Brasil Representacao Comercial Ltda. commented, "The economy of the countries in South America in particular are growing rapidly. We believe that we can build a large cardmember base and merchant acceptance network in the region in the near future by focusing on strengthening relationships with our existing and potential partners." |
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