CB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd. (JCB), and Overseas-Chinese Banking Corporation Limited (OCBC Bank), the longest established Singapore bank, are pleased to announce a new partnership to broaden JCB Card acceptance in Singapore.
With the acceptance of JCB Cards, OCBC Bank reinforces its position as one of the leading acquirers and continues to build momentum increasing its merchant base both in the physical and e-commerce space.
OCBC Bank reinforces its position
Through this partnership with OCBC Bank, the JCB Card acceptance network in Singapore is further enhanced to bring about greater convenience for JCB Cardmembers in Singapore, Japan and other parts of North Asia, especially in China, South Korea and Taiwan, and its fast growing issuing base in South East Asia.
Greater convenience for JCB Cardmembers
Mr Desmond Tan, Head of Group Lifestyle Financing, OCBC Bank, said:
“With OCBC’s network of commercial partners, including major supermarkets, department stores and dining outlets, this puts us in a great position to provide JCB customers with more payment acceptance points. This new partnership with JCB is an indication of our continuing work to establish a higher level of card acceptance that goes beyond Visa and Mastercard. JCB customers can now enjoy a greater level of ease and an improved customer experience when it comes to card payments and this is an opportunity for OCBC to extend our comprehensive credit card network to a new consumer base.”
Mr Fumihiko Mitsuoka, Managing Director, JCB International Asia Pacific Pte. Ltd. said,
“We are honoured to announce this partnership with OCBC, which will allow all their merchants to develop their business through a wider choice of payment schemes to attract more customers.”
OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
OCBC Bank and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.
OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 570 branches and representative offices in 19 countries and regions. These include about 300 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and over 90 branches and offices in Mainland China, Hong Kong SAR and Macau SAR under OCBC Wing Hang.
OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals. OCBC Bank’s insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia.