JCB construction equipment brand: history and present day.

History of creation and development

JCB was created in Japan in 1961. The company's headquarters are permanently based in Tokyo. The company's rapid growth was facilitated by the acquisition of Osaka Credit Bureau in 1968. This purchase allowed JCB to become a leader in the credit card market: by 1972, the total number of bank cards issued exceeded 1 million.

In 1981, JCB began to aggressively expand its footprint. At this point, the company's cards are used in 23 countries around the world. In Japan itself, the payment system quickly gained a monopolist position. Other important dates:

• 1989 - the payment system begins to operate in the USA.
• 1990 - the first bank card is issued in Europe.
• 1996 - entry into the market of a number of Latin American countries (Brazil, Argentina, Uruguay, Colombia, Mexico, and others).
• 2000 - conclusion of a partnership agreement with American Express.
• 2003 - formation of an alliance with China UnionPay Co., Ltd.
• 2005 - JCB cards are accepted in China.
• 2006 - signing of a partnership agreement with Discover Network.

In addition to the national Japanese market, where JCB has no competitors, the payment system has become widespread in the United States. In North America, the Japanese company's cards are used in the same way as Visa, MasterCard, Discover or American Express. Issue of credit and debit bills.

JCB cards are accepted at almost all US retail locations. They can be used to pay at hotels, airports, gas stations, cafes and restaurants, and shops. The cards are also freely used in Apple branded stores.

Dump trucks [edit | edit code ]

JCB produces three articulated dump trucks

JCB in the world

The main market is Japan. In addition, cards of this payment system are used in the UK, China, USA, Korea, Thailand, Singapore, Germany, Australia, Indonesia, the Netherlands, Switzerland, Spain, Italy, New Zealand, Malaysia, Belarus, and the Russian Federation.

There are about 200 countries in the world in which the payment system operates. The number of participating countries is constantly growing. It is known that the payment system will start operating in Ukraine in 2022.

Customers make in excess of $200 billion in JCB card purchases per year. Cards are accepted anywhere with JCB or Cirrus logos. In addition, holders can use free Internet at airports and train stations. This is one of the features of cards of this payment system.

Review analysis

So far, the JCB card is just being adopted by Russians. Reviews are cautious, but mostly positive. Holders note that for any purchases it is customary to give bonuses that can be used to purchase goods in the online store. Points are converted into rubles at the rate of 1=1. Sometimes discounts can reach up to 50%.

The card is of interest to those who often travel to Asia. Foreign guests from Japan, China, and other Asian countries should be able to pay with JCB in restaurants, hotels, and stores throughout Russia.

Users are unhappy with the small amount of cashback. They point out alternative products that have better deals.

JCB in Russia

In Russia, the payment system began operating only at the beginning of 2015. Until this moment, no Russian bank had a license to issue cards of this type. For this reason, foreign citizens, card holders, faced great inconvenience, since they could not even use their own funds on the territory of the Russian Federation.

The first Russian bank to begin negotiations with a Japanese company was Alfa-Bank. It is logical that this credit institution should have been the first among others in issuing JCB cards.

The payment system was registered by the Central Bank on October 16, 2014. Alfa-Bank became the settlement center. The first bank to start issuing JCB cards was Gazprombank.

Following him, Svyaz-Bank and Almazergienbank (Republic of Sakha-Yakutia) joined the system. In the summer of 2022, Rosselkhozbank also began issuing. Currently JCB cards are issued by the following Russian banks:

• Sberbank of Russia.
• Russian standard.
• Credit Bank of Moscow.
• Bank "Saint-Petersburg.
• Rosselkhozbank.
• Alfa Bank.
• Almazergienbank.
• Svyaz-Bank.
• UniCredit Bank.

The list also includes some credit organizations from the OPC group. The number of participating banks is constantly growing, but the payment system cannot fully compete with VISA and Mastercard in Russia. JCB has not become widespread in the Russian Federation.

JCB and NSPK MIR

The National Payment Card System has entered into an agreement with JCB under which co-branded cards are issued. Thanks to this agreement, JCB has strengthened its position in the Russian market, and the MIR system will spread abroad.

MIR-JCB cards are issued by Gazprombank. The first co-branded card in Russia was issued by Rosselkhozbank. The project was launched jointly with Panasonic.

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What types of JCB bank cards are there?

As with other payment systems, banks issue cards of different types based on JCB. In Russia, some of them are not available for registration. List and names of JCB cards:

• JCB is a standard card for most customers.
• JCB J-1 - intended for students aged 18-25 years (student card).
• JCB Grande - holders of these cards are entitled to free medical services at the points where they are accepted, plus an individual insurance package is available for them.
• JCB Ladies Card - “female” cards, which offer a package of special services for the fairer sex.
• JCB Gold - gold cards that provide the opportunity to use an expanded range of additional services and options.
• JCB Class are premium cards intended only for selected customers.
• JCB Nexus is a gold card for holders under 20 years of age.

In the Russian Federation, cards of the standard type have become widespread. Some credit institutions produce products developed in the interests of their own brand.

Cashback

The function is one of the determining factors when choosing a card product. Purchases abroad using the JCB payment system provide customers with a cashback function. This means that part of the funds spent is returned back to the account in real money.

From 5% to 20% return is provided through partnership with JCB. By purchasing in Russia and accumulating bonuses, you can spend them on trips abroad. This opportunity is provided by 34 million retail outlets in 200 countries.

A co-badged payment instrument allows you to participate in the Russian Railways Bonus program. Passengers accumulate points for trips on the Sapsan, Allegro, Russian Railways (FPK JSC) trains, and then exchange them for train tickets.

Why JCB is not widely used in Russia

The main reason is that the payment system began operating in Russia only in 2014. That is, to gain appropriate popularity in the country, this is a relatively short period of time.

Moreover, JCB is aimed primarily at the Asian market. The system is not able to compete with VISA and Mastercard in Europe and America. And finally, the Russian Federation has its own payment system - MIR, which is only gaining momentum by 2022.

For the same reason, JCB's ATM network is relatively small. JCB card holders experience serious inconvenience when using their cards. By and large, such products are extremely useful for traveling to Asian countries.

5 / 5 ( 3 voices)

about the author

Irina Rusanova - higher education at the International East European University in the direction of "Banking". Graduated with honors from the Russian Economic Institute named after G.V. Plekhanov with a major in Finance and Credit. Ten years of experience in leading Russian banks: Alfa-Bank, Renaissance Credit, Home Credit Bank, Delta Credit, ATB, Svyaznoy (closed). He is an analyst and expert of the Brobank service on banking and financial stability. [email protected]

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Notes

1. ↑ 1234
   Corporate Overview
2. ↑ 1234
   JCB - wyjątkowy styl i klimat traktowania posiadacza karty. — Świat Kart Płatniczych. Archived from the original on April 22, 2012.
3. ↑
   Using Your Discover card in Asia
4. ↑
   Merchants - FAQ
5. ↑
   Help from the website of the Central Bank of the Russian Federation
6. ↑
   Help about the payment system

Comments: 2

Your comment (question) If you have questions about this article, you can tell us. Our team consists of only experienced experts and specialists with specialized education. We will try to help you in this topic:

Author of the article Irina Rusanova

Consultant, author Popovich Anna

Financial author Olga Pikhotskaya

1. Sergey
   12/13/2021 at 01:44 Where can I withdraw cash from which ATMs?
   Reply ↓ Anna Popovich
   12/13/2021 at 21:06

   Dear Sergey, contact the issuer listed on the back of your card, a specialist will tell you which bank ATMs you can withdraw cash from.

   Reply ↓

Links

• JCB Global website
• JCBUSA
• JCB Corporate website