SBC bank signs JCB card issuance MOU

JCBcard

Cambodia strategic market

SBC (Singapore Banking Corporation Ltd.) has started JCB merchant acquiring operations in the Cambodia market and has signed a memorandum of understanding for JCB card issuing. SBC Bank will phase in JCB card acceptance at all SBC Bank merchants in Cambodia by the end of 2013 and plans to issue JCB card in the near future.

Mr. Andy Kun, Executive Chairman of SBC Bank, said, “The collaboration with JCBl marks another milestone for SBC Bank in expanding its card business and this joyous occasion coincides with our bank’s 20th anniversary of establishment. The acceptance of JCB cards will open up a world of financial freedom to JCB cardmembers visiting Cambodia for business or pleasure whereby JCB cardmembers can use their cards at over 500 SBC Bank merchants as well as access over 100 SBC Bank ATMs by the end of 2013. SBC Bank is also proud to be the first JCB eCommerce acquirer in Cambodia to provide online payment gateway service which would benefit Cambodia’s growing business and tourism sectors. Such payment channel will enable merchants to accept online payments in fulfilling various need-based services such as reservations, booking, ticketing, shipping and bill payments in a secured manner.”

Mr. Kimihisa Imada, Deputy President of JCBI, said, “We are positioning Cambodia as a strategically important market for JCB global business expansion. Cambodia has beautiful and valuable world heritages, and I’m sure the country will be one of the most popular destinations for tourist.” The number of tourists to Cambodia was about 3.6 mil in 2012, which is increase 24% over the prior year, and is expected to be 7.5 mil by 2020. “Tourists from Asian region such as Japan, China, Korea, Thailand, and Vietnam, where we are agressively expanding JCB cardmember base, are expected to increase because of its geographic closeness. I believe this partnership will further increase the level of cardmember convenience, and contribute to the tourism in the market,” Imada added.

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