As part of supporting the cashless society and financial inclusion aligned with Vision 2030, JCB has initiated discussions with STC Bank to explore a potential partnership aimed at expanding card acceptance in the Kingdom.

The MOU sets the framework for both organizations to engage in discussions and assess opportunities to develop acceptance and deliver seamless payment experiences for JCB customers across the Kingdom.

Mr. Mohammad Yahya Refaie, Senior Director - Business Banking of STC Bank, said:

“Discussion toward building a relationship with JCB will allow STC Bank to support JCB Card acceptance broadly in the Kingdom, facilitate cross-border payments and offer special benefits for JCB cardmembers, such as rewards and promos. It also enhances STC Bank’s international payments capability and enables our merchants to accept JCB payments strengthens its attractiveness to travelers, expatriates, and international merchants, and builds connections into the Asian payment ecosystem”.

Takumi Takahashi, Executive Vice president of JCBI, commented:

“We are excited to begin discussions with STC Bank, a leading digital bank and are pleased to have the opportunity to build a relationship with a subsidiary of STC Group, the largest telecommunications company in the Kingdom. This MOU marks the first step toward a potential partnership that could transform the way JCB customers access and use financial services in the Kingdom.”

About STC Bank

STC Bank is Saudi Arabia’s largest fully digital bank, established to empower individuals and businesses with innovative financial services and to contribute to the Kingdom’s Vision 2030. STC Bank continues to lead in digital banking, customer experience, and financial technology, reinforcing its mission to deliver simplicity, trust, and an easy-to-use digital banking experience for all its customers.

About JCB

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 about 56 million merchants around the world. JCB Cards are now issued mainly in Asian countries and territories, with more than 169 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its 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. For more information, please visit: www.global.jcb/en/

Contact
Anna Takeda
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@info.jcb.co.jp