New Delhi, May 4 (PTI) Expats and tourists from Japan as well as other countries who use JCB Co Ltd’s payment solutions would now be able to trasact with their cards across ATMs and POS terminals in India via the NPCI network.
The National Payments Corporation of India (NPCI) and JCB International Co Ltd, who announced a tie-up today, hopes that a 100 per cent acceptability of JCB cards in India will be reached in a few years.
“JCB card holders from Japan or other countries can now use the JCB cards if they come to India,” A P Hota, Managing Director & Chief Executive Officer, NPCI said in an interaction after the announcement.
“We have a network of 2.30 lakh ATMs and 3 million (30 lakh) point of sale (POS) terminals in India. Now that can be used in India by JCB card holders,” he added.
JCB International is the overseas operations subsidiary of Japan’s only global payment brand JCB Co Ltd.
JCB’s card user base is about 10.1 crore (101 million) spread across 23 countries.
NPCI and JCB International are also planning to issue a co-branded card with the help of member banks in the fold of NPCI network, Hota said.
Prior to the announcement today, a pilot project was run in February this year for JCB credit and debit card acceptance on ATM network and POS terminals in India.
JCB cards will be accepted over the ATM networks of 32 banks including ICICI Bank, Union Bank of India and Indian Bank.
POS acceptance are to be carried out on Axis Bank and ICICI Bank network.
“Today’s business launch is a crucial step for us…the most meaningful moment for the history of JCB’s global business is that 100 per cent POS and ATMs in India will be accepting JCB cards,” Ichiro Hamakawa, President and CEO, JCB Co and Chairman and CEO, JCB International Co said.
This is published unedited from the PTI feed.