Network International (NI), the most comprehensive and preferred card solutions provider in the United Arab Emirates (UAE), JCB, a major global payment brand, and JCB International, JCB’s international subsidiary, announced that they signed an agreement to expand JCB card acceptance in UAE. In May 2007, NI will phase in opening its merchant network, which will soon enable JCB card members to have access to NI’s 10,000 merchants nationwide.
“The arrangement with NI will bring significant increase in JCB card members’ convenience in the UAE,” said Mr. Kenji Seto, Senior Deputy President of JCB International. “Currently, the Middle East is one of the markets JCB considers most important in terms of card acceptance. Especially, the UAE is the center of attention of many JCB card members, the majority of whose card members are based in Asia, from the tourism perspective. According to the Department of Tourism and Commerce Marketing (DTCM), about 60,000 Japanese travelers visited Dubai, the commercial capital city of the nation. It is striking to know that the growth markets almost 30% up compared to the same period of previous year”.
Mr. Seto also referred that one of the reasons JCB signed an agreement with NI as one of its acquiring partners is NI’s broad merchant network base of hotels, restaurants, and other entertainment facilities patronized by visitors to the region, including the world’s tallest all suite hotel, ‘Burj Al Arab’, which is recognized as the landmark tower in this region by travelers from around the world.
Mr. Abdulla Qassem, Chairman, Network International, paid particular attention to the strengthening of trade relations between the UAE and Japan. He said, “There are around 40 Japanese companies currently established in Dubai and approximately 100 in Jebel Ali Free Zone (Free Trade Zone in Dubai), and as such they intend to boost ties with UAE in general & Dubai in particular. Considering that today Japan ranks among the leading trading partners with the UAE the timing of this agreement is just perfect.”
Merchant service charge rates for JCB card acceptance will be no higher than those payable for major international brand acceptance which means that JCB card will be used at almost all merchants accepting international credit cards in the UAE. At present, NI has the largest merchant base in UAE with over 10,000 merchant outlets, covering 40% of the country's total credit card merchants which will appreciably augment JCB cardmembers’ level of convenience in the region.
About Network International
Established in 1994, Network International LLC is today one of the largest credit card and payment services providers in the Gulf and Middle East Region geared to meet the needs of Banks, Financial institutions, and large and individual retailers.
The company is a Principal Member of Visa International and MasterCard International offering customers the most comprehensive range of products and services in both the Issuing and Acquiring segments of the card industry in the Middle East and beyond, ranking first in credit card transaction processing.
In addition to the processing and management services offered, Network also provides Consultancy services ranging form Planning and designing, to developing of new products and services and providing sponsorship with Visa and MasterCard International.
To date Network International provides credit and debit card processing services, ATM sharing and ATM management services to more than 25 Banks in the region and manages one of the most extensive ATM networks exceeding 130 ATMs.
About JCB
JCB is an international credit card brand and the largest card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding overseas in 1981. Its merchant network includes 13 million merchants and spans 190 countries and territories. JCB cards are now issued in 20 countries and territories, with 57 million cardmembers. 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. JCB’s corporate philosophy of “Service from the heart”, a commitment to responsive and high-quality service, continues to guide it as it creates the future together with its customers, merchants and partners. For more information, please visit: www.jcb-global.com/english/ or www.jcbcorporate.com/english/.
