JCB International (JCBI) and Caisse Federale de Credit Mutuel (CFCM) has announced the signing of an agreement expanding the acceptance of JCB cards in France.
From July 2016, CFCM will add acceptance of JCB cards at CFCM merchants and ATMs throughout France, reinforcing its position as the French leading acquirer in volume of transactions.
Merchants having a payment acceptance agreement with CIC or Credit Mutuel-CM11 group will develop their turnover with customers especially coming from Japan, Asia-Pacific (including China, Korea, Taiwan), and Russia.
The number of Asian tourists in France is expected to grow more, and merchants will benefit from the strong purchasing power of JCB card members thanks to the unique services and advantages JCB provides.
JCBI has been increasing its presence in Europe by expanding the merchant network. Currently, JCB cards are accepted at about 30 million merchants worldwide. France is the number 1 tourist country in the world and is a strategically important country for JCBI.
The partnership with CFCM will enhance JCB presence in the market and increase JCB brand visibility, making JCB card members feel more comfortable to use their cards.
JCBI deputy president Kimihisa Imada said: "This is a big milestone in our business in France. As France is one of the most famous destinations for Japanese, Asian and European tourists, this partnership will bring more benefits and convenience to JCB card members. I hope we can explore our relationship with CFCM even further."
CIC group’s Credit Mutuel payment solutions director Claude Brun declared: "This partnership strengthens our merchant acquisition business and strengthens our leading position in card acquiring in Europe.
"Through this agreement with the JCB well-known brand, CIC and 11 federations of Credit Mutuel will allow all their merchants to develop their business through a wide choice of payment methods and attract the customers with high purchasing power who are growing the most in France."