BCEL, JCB launch joint credit card
BCEL, JCB launch joint credit card
Banque Pour Le Commerce Exterieur Lao Public (BCEL) and JCB International Co., Ltd have jointly launched the BCEL-JCB Credit Card in Laos.
The new credit card between the largest retail bank in the country and Japan Credit Bureau (JCB) will give local consumers greater payment choices while further expanding JCB's global reach.
The BCEL-JCB Credit Card can be used at millions of POS outlets worldwide via the Japanese firm's network while card members will enjoy special offers at JCB merchants both locally and abroad.
Speaking at the launch of the project in Vientiane this week, Deputy Director General of BCEL, Mr Phansana Khounnouvong said the card aimed to widen the choice of products they could efficiently and conveniently offer customers in terms of smarter payment in their daily lives, which would also reduce cash transactions and increase security.
“The primary target customers include those who are interested or desire to hold a credit card. We believe that this product will help widen our customer base and secure our position as the leader in credit card products in the Lao market over the long term,” he said.
“BCEL are aware of the quality and high profile of JCB cards which are also accepted internationally. And it is our privilege to partner with JCB International in this project which results from our agreement on June 23, 2014.”
“Since the 3rd quarter of 2014, BCEL has been concentrating on the system development following the agreement with JCB in order to ensure our capacity to be accredited as a formal JCB card issuer.”
JCB is a leading payment company from Japan and has a business presence all over the world.
Deputy President of JCB International Mr Kimihisa Imada said “We have over 28 million merchants and over one million ATMs in 190 countries. Over 89 million JCB cards have been issued as of today in 19 countries and territories,” he said.
In JCB's global expansion strategy, its current business focus is the Mekong region, comprising Thailand, Vietnam, Myanmar, Cambodia and Laos.
“Mekong region is one of the most important regions for JCB because of its growing economy and the potential growth of the card payment market,” he said.
“The card market in Laos has gr eat potential and I believe this market will rapidly expand in the next few years. JCB would like to invest in Laos to contribute to the growth of the card market.”
BCEL is a leading commercial bank in Laos which has been gradually strengthening various aspects including modernisation of its systems, the of assets, deposits, loans and number of clients.
