Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Cards

NPCI, JCBI partner for JCB acceptance and card issuing in India

Monday 29 June 2015 | 09:45 AM CET

National Payments Corporation of India (NPCI), an organisation established by the Reserve Bank of India, and JCB International (JCBI), the international operations subsidiary of JCB Co., Ltd., have partnered for acceptance of JCB card at all NPCI acceptance locations under the NPCI network.

The NCPI network has 1 million card merchants and 200,000 ATMs across India. In addition, the partnership will include the issuance of RuPay/JCB international cards by NPCI member banks that are globally accepted through the JCB network, which will be the first-ever JCB card issued in India.

The new strategic partnership covers acceptance of JCB cards at NPCI merchants including both retail point-of-sale and Ecommerce and ATMs and issuance of RuPay/JCB international cards by NPCI member banks in India, which can be accepted at around 29 million JCB card merchants as well as ATMs all over the world.

Through this strategic partnership, JCB card's acceptance coverage in India will reach to 100% for card merchants and ATMs, serving an increasing number of people visiting India especially from Asia where JCBI has a large cardmember base. Meanwhile, the door for international acceptance for RuPay brand will be wider open with the partnership with JCBI. Currently, approximately 165+ million RuPay domestic cards are issued by 426 banks.

The two parties now target to launch JCB acceptance business in India around mid-2016 and RuPay/JCB international card issuing business later in 2015.

 advertisement
 advertisement
 advertisement
 advertisement