PrivatBank, the Ukrainian state-owned bank, and JCB International (JCBI), the international operations subsidiary of JCB Co Ltd, announced that they signed a License Agreement in Tokyo for building the JCB card acceptance network and to start JCB merchant acquiring operations in Ukraine.

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.

Established in 1992, PrivatBank is the leader in Ukrainian banking. According to market research carried out by Ukrainian subsidiary of global market research organization Gfk in the II quarter of 2019, 55.3% of individual clients considered us as their main bank.

This percentage exceeded the total percentages of the next twenty banks in the Gfk ranking. This index made up 63.7% for corporate clients.

PrivatBank is one of the world’s most innovative banks. Over ten years ago the Bank was among the first banks that started using one-time SMS passwords.

Among the recent innovations recognized all over the world, there are such products as payment mini-terminals, login to Internet bank using a QR code, online cash collection, and dozens of different mobile applications.

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.

Source : ACN Newswire

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