JUN 06, 2016

JCB International and Caisse Fédérale de Crédit Mutuel sign an agreement for the acceptance of JCB cards

JCB International continues to expand its acceptance network in France

Caisse Federale de Credit Mutuel and CIC strengthen their acquirer leading position in Europe with the largest offer of international payment scheme of the market

6 June 2016

Tokyo, Japan and Strasbourg, France on 6 June 2016 - JCB International (JCBI) and Caisse Federale de Credit Mutuel (CFCM) announced today the signing of an agreement expanding the acceptance of JCB cards in France.

From July 2016, CFCM will add acceptance of JCB cards at CFCM merchants and ATMs throughout France, reinforcing its position as the French leading acquirer in volume of transactions. Merchants having a payment acceptance agreement with CIC or Credit Mutuel-CM11 group will develop their turnover with customers especially coming from Japan, Asia-Pacific (including China, Korea, Taiwan), and Russia. The number of Asian tourists in France is expected to grow more, and merchants will benefit from the strong purchasing power of JCB card members thanks to the unique services and advantages JCB provides.

JCBI has been increasing its presence in Europe by expanding the merchant network. Currently, JCB cards are accepted at about 30 million merchants worldwide. France is the number 1 tourist country in the world and is a strategically important country for JCBI. The partnership with CFCM will enhance JCB presence in the market and increase JCB brand visibility, making JCB card members feel more comfortable to use their cards.

Mr. Kimihisa Imada, Deputy President of JCBI commented, "This is a big milestone in our business in France. As France is one of the most famous destinations for Japanese, Asian and European tourists, this partnership will bring more benefits and convenience to JCB card members. I hope we can explore our relationship with CFCM even further.”

Mr. Claude Brun, Director of Payment Solutions at Credit Mutuel - CIC group declared, "This partnership strengthens our merchant acquisition business and strengthens our leading position in card acquiring in Europe. Through this agreement with the JCB well-known brand, CIC and 11 federations of Credit Mutuel will allow all their merchants to develop their business through a wide choice of payment methods and attract the customers with high purchasing power who are growing the most in France. ”

About Caisse Federale de Credit Mutuel (CM11 group)
Caisse Federale de Credit Mutuel is a leading European bank, acknowledged for its financial strength and the quality of its ratios. Retail banking is the heart of its business. It brings together the branches affiliated to Federations de Credit Mutuel Centre Est Europe, Sud-Est, Ile-de-France, Savoie-Mont Blanc, Midi-Atlantique, Loire-Atlantique et Centre-Ouest, Centre, Normandie, Dauphine-Vivarais, Mediterraneen and Anjou. Mutual bank, it turned to bank assurance in the early 70s and has diversified to other activities (telephony, remote surveillance...). The technological expertise has always been central to its development strategy, sustaining Credit Mutuel-CIC Group as leading European player in the payment solutions sector.

For more information, please visit: www.creditmutuel.fr

About CIC
Holding and network bank in the Paris region, CIC federates five regional banks and specialized subsidiaries in all financial trade - retail banking, corporate banking, market activities, private banking and capital development - and insurance. Present in France and abroad, it benefits from the strength of its parent company, Credit Mutuel, and weaves with its customers, individuals and professionals, trusting relationships based on the quality of its products and services. With its commitment to the service of the economy, of the society and the environment, with its corporate governance mode, CIC acts as a responsible bank, serving and respecting human being.

For more information, please visit: www.cic.fr