Saudi National Bank, JCB Partner to Expand Electronic Payment Services in Saudi Arabia
Date
4/16/2023 4:21:35 AM
(MENAFN) The Saudi National bank (SNB) and JCB International Co. Ltd., the international operations subsidiary of JCB Co. Ltd., have signed a partnership agreement to expand electronic payment services in Saudi Arabia. As part of this agreement, the JCB Card will be accepted through approximately 306,351 point-of-sale (POS) devices and 3,088 automated teller machines (ATMs) across the country.
This partnership will provide greater convenience for JCB cardholders in the Middle East markets to benefit from the usage of their JCB Cards throughout the Saudi National Bank POS and ATM network across the Kingdom. The move aims to allow JCB cardholders visiting Saudi Arabia to carry out financial operations with greater ease.
Ahmed Bassam Abu Khamsin, Head of Global Transaction Banking at the Saudi National Bank, expressed the bank's aspirations to build strategic partnerships with significant international organizations to keep up with technology, support the Saudi Vision 2030 agenda, and meet customers' needs. He added that the partnership would help JCB penetrate the Saudi market, as the Saudi National Bank is a primary banking service provider.
Yoshiki Kaneko, President and COO of JCB International Co., Ltd., emphasized the importance of Saudi Arabia as a travel destination for JCB cardholders. He noted that given the evolving strategy of the Saudi Vision 2030 and the growing relationship between the two countries, JCB is pleased to sign this partnership with the Saudi National Bank, one of the largest banks in the region, to allow the acceptance of JCB Cards inside the Kingdom. Kaneko added that this partnership would serve the business and tourism requirements of JCB cardholders.
The Saudi National Bank banking services accept a wide range of international payment and credit cards in addition to JCB Cards, Japan's only international payment brand with over 150.5 million cards issued worldwide. This partnership is expected to provide a boost to electronic payment services in Saudi Arabia and contribute to achieving the objectives of the Saudi Vision 2030.
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