BC Card (President and CEO, Joon Hee Suh, www.bccard.com) has signed an MOU with global credit card network JCB on co-expanding businesses and fin-tech services on December 22nd.

The signing ceremony was attended by CEO of BC Card, Joon Hee Suh and President of JCB International, Sannomiya Koremitsu. Both parties agreed to cooperate in the following areas ▲ Launch a product with joint services ▲ Expand mobile payment solutions and infrastructure ▲ Implement contactless payment solutions in the new product.

BC Card intends to use JCB’s global network and assure cardholders convenience in their overseas card use, and JCB plans to implement BC Card’s fin-tech solutions in their marketing solutions.

Both companies will issue a new joint product targeting travelers who frequently visit Korea and Japan, and implement BC Card’s contactless payment solution KS-standards and JCB’s J/Speedy on the product.

BC Card is unceasing in its efforts to develop global business – shown by its agreement to establish a payment processing joint venture with Indonesia’s biggest state-owned bank, Bank Mandiri, last September. On the 10th, BC Card also signed an agreement with global credit card service company American Express (AMEX) to issue AMEX cards in Korea and cooperate in co-marketing programs.

President of JCB, Sannomiya Koremitsu, claimed, "BC Card and JCB have a great history. Not only does BC Card have a similar business and sales structure as that of JCB but it was also the first JCB issuer in Korea. JCB hopes to create future synergy merging BC Card’s fin-tech services and JCBs global payment capabilities."

CEO of BC Card, Joon Hee Suh stated, "BC Card is happy to strengthen its ties with JCB, a leading firm with global standard competence and network. BC Card will continue to work towards becoming a global processing company."

Established in 1961, JCB has a total asset of 101 trillion won and current income of 2.5 trillion won. JCB has partnered with 19 countries and currently owns 29 million merchants and 90 million cardholders across the globe3. BC Card has been issuing and acquiring JCB cards since 1993.