Under the agreement, JCB and CIMB Niaga are due to launch the merchant acquiring business in July 2013 and are ready to accept JCB card as means of payment, starting with Jakarta and Bali as the first area to be focused. CIMB Niaga and JCB will launch CIMB Niaga JCB Credit Card in early 2014.
CIMB Niaga was established as Bank Niaga in 1955. CIMB Group holds around 97.94% of the stakes in CIMB Niaga. The Bank offers a comprehensive suite of both conventional and Islamic banking products and services, through an expanding delivery channel network of 971 offices all over Indonesia as at 31 March 2013, including 592 branches, 350 Mikro Laju units (including 21 outlets attached to a branch), and 50 cash/payment points. CIMB Niaga has more than 14,300 employees.
CIMB Group offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, the Group is now present in 8 out of 10 ASEAN nations (Malaysia, Indonesia, Thailand, Singapore, Cambodia, Brunei, Vietnam, and Myanmar). Beyond ASEAN, the Group has market presence in China, Hong Kong, Bahrain, India, Sri Lanka, Taiwan, Australia, the US, UK and Korea.
JCB is a credit card issuer and acquirer in Japan. Its acceptance network includes over 23 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 16 countries.
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