Under the terms of the deal, ICBC will issue its flagship ICBC card with the JCB-branded cards and provide customers with JCB travel-related services such as the JCB Plaza and JCB Plaza Lounge in addition to ICBCs own loyalty program and other functions and services. Customers will be able to select billing of their international spending on the card in US’s currency or in Japanese currency.
ICBC has been a JBC partner since 1991 and signed a license agreement for JCB-branded card issuing in 2008. Currently JCB has alliances with thirteen partner banks and financial institutions in China for merchant acquiring with over approximately 100,000 merchants accepting JCB cards.
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