On June 7 2012, Himalayan Bank Limited (HBL) has started acquiring business of JCB card through its network comprising of more than 1,200 HBL merchants and 69 ATMs with JCB International CO., LTD. (JCBI), the international operations subsidiary of JCB CO., LTD and the only global payment brand and leading credit card issuer and merchant acquirer based in Japan. The JCB card members will be able to use JCB credit cards at HBL merchants in Nepal.
It is believed that this arrangement will increase convenience for over 77 million JCB card members largely based in Japan, China, Korea, Taiwan and other Asian countries who travel to Nepal.
It is worth to be noted that JCBI and HBL had entered into the Issuing and Acquiring License Agreement on May 13, 2011.
According to a press release of the Himalyan Bank, JCB is a major global payment brand and leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding overseas in 1981. Its acceptance network includes 22.24 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 16 countries and territories, with more than 77.46 million card members. 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 card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide.