Santander launches JCB merchant acquiring operations
Tuesday, 17 September 2019
Santander launches JCB merchant acquiring operations in Spain
Madrid / Tokyo, Sept 17, 2019 - (ACN Newswire) - Banco Santander (Santander), the major international financial group, has launched JCB merchant acquiring operations in Spain following a license agreement with JCB International (JCBI), the international operations subsidiary of JCB, the Japanese global payment brand. Thanks to this new alliance, Santander facilitates JCB acceptance at Santander-acquired merchants throughout Spain.
JCB's 130 million cardmembers now have the opportunity to enjoy goods and services from Santander's extensive merchant network in Spain, including hotels, restaurants and luxury retailers. Santander merchant partners will benefit from the opportunity to capture card sales from JCB's predominantly Asian cardmember base.
Santander facilitation of JCB card acceptance significantly increases JCB brand coverage in Spain, providing greater convenience and augmented services to JCB cardmembers globally.
Mr. Yoshiki Kaneko, Deputy President, JCB International Ltd., said, "This partnership with Spain's largest bank is a significant milestone in JCB's mission to increase our acceptance footprint across Europe. JCB cardmembers can now enjoy shopping with a greater number of merchants in Spain, both online and at point of sale. With average transaction value in Spain on the rise for JCB cardmembers, we anticipate this partnership to facilitate growth for Spanish merchants, particularly in the luxury goods category."
Ruben Justel, Managing Director at Santander Espana Merchant Services, said, "JCB's growing cardmember base and prominence in the tiger markets will be of great benefit to our merchant network in Spain as we welcome greater JCB acceptance. As the world becomes a smaller place and tourism figures increase, we've noticed that our merchants benefit from catering to international consumers and that includes variety of payment methods. As the gateway to Asia, facilitating JCB acceptance was the next logical step in this progression."
Santander, with more than 160 year of history, is a retail bank operating in 10 main markets that obtained an attributable profit of EUR 7,810 million in 2018 - which is an increase of 18% on the previous year. Santander, with more than 200.000 employees and more than 144 millions of customers, is the 1st bank in Europe and 3rd in the world.
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 30 million merchants and over a million cash advance locations in the world. JCB cards are now issued in 24 countries and territories, with more than 130 million Cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and Cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide.