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Thursday, 12 March 2015, 15:00 HKT/SGT

Source: JCB
BIDV to start accepting JCB cards in Vietnam

Hanoi & Tokyo, Mar 12, 2015 - (ACN Newswire) - Bank for Investment and Development of Vietnam Joint Stock Company ("BIDV"), a major commercial bank in Vietnam, and JCB International Co., Ltd. ("JCBI"), the international operations subsidiary of JCB Co., Ltd., today announced that BIDV has started accepting JCB card in Vietnam. BIDV becomes JCBI's 10th partner financial institution and provides card acceptance at their 15,000 accepting locations to all JCB cardmembers issued in Vietnam as well as 16 other countries out of Vietnam.

BIDV to start accepting JCB cards in Vietnam

BIDV is one of the leading retail banks in Vietnam. In card business, BIDV owns a wide network of about 15,000 payment card accepting locations. So far, BIDV has issued more than 8.8 million debit and credit cards. BIDV's retail banking in general as well as in card business in several years made remarkable progress with larger retail customer base and greater contribution to total income. Its high quality service and products is widely recognized. Recently, BIDV has been recognized as the "Best Retail Bank in Vietnam for 2014" by the Asian Banker, one of the most prestigious magazines for the finance and banking sector in the world.

JCBI has been continuously increasing its presence since starting its business in Vietnam in 1991. Currently, more than 200,000 cards have been issued to residents in Vietnam. The partnership with BIDV will further enhance the acceptance of JCB cards at merchants across Vietnam benefiting JCB cardmembers visiting the region as well as local JCB card members.

At the press conference held today, Senior Executive Vice President of BIDV, Quach Hung Hiep said, "I am very excited that BIDV and JCBI are finally launching the acceptance of JCB cards after all the efforts that both parties have made. We have recently seen increasing payment card usage by both local and foreign people, and we are expecting the same for JCB. We are very happy to offer our merchants throughout Vietnam the ability to accept JCB card."

Kimihisa Imada, Deputy President of JCBI, said, "To launch the acceptance of JCB cards at BIDV merchants is one of the big milestones for our business in Vietnam because BIDV has a big share in the payment industry. Now, JCBI and all top 4 banks have partnerships and JCB card acceptance covers almost all the payment card accepting locations in Vietnam. Wider acceptance of JCB cards encourages our issuing business and leads to more transactions. I would like to cooperate with BIDV in issuing business as the next step."

About BIDV

As a long-established bank, BIDV has acted the key role in Vietnam in banking including payment service, insurance, stock and financial investments since 1957. With more than 19,000 officers, employees and financial consultants who are well-qualified and well-trained with full experience, BIDV is a very well expanded bank with 127 branches and 584 transaction offices, thousands of ATMs and POS, and subsidiary companies in security and insurance operating in 63 provinces and cities nationwide. Moreover, BIDV expands business to international markets such as Laos, Myanmar, Russia, Cambodia, Singapore, Hong Kong and US. BIDV is always the choice, the trust for economic organizations, the leading enterprises of both countries and individuals in accessing the financial and banking services. Its outstanding business result was commended in many awards such as Asiamoney, International Banker and so on. For more information, please visit: www.bidv.com.vn

About JCB

JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes over 27 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 17 countries and territories, with about 87 million card members. As part of its international growth strategy, JCB has formed alliances with more than 350 leading banks and financial institutions globally to increase merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, visit: www.jcbcorporate.com/english

Note: JCB statistics included in About JCB are as of the end of September 2014.

JCB International Co., Ltd.
Ayako Tanaka
Corporate Planning Department

Card Center
Email: bidvcard@bidv.com.vn
Phone: +84 4 22206742

Topic: General Announcement
Source: JCB

Sectors: Cards & Payments
From the Asia Corporate News Network

Copyright © 2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


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