TORONTO, July 8, 2019 — Interac Corp. and JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., have announced an agreement that will allow JCB to process ABM transactions in the Canadian market by leveraging the existing infrastructure between Interac Corp. and Discover Global Network to support both magnetic stripe and chip and pin cards. This agreement will enable JCB credit and debit cardholders to withdraw cash at participating ABMs throughout Canada, joining current international network partners Discover Global Network and UnionPay International while leveraging the infrastructure of Interac Corp. – one of Canada’s leading payment brands and a widely-used national payment system.
“Our collaboration with JCB furthers our efforts to bring convenient payment solutions for international visitors into Canada,” said Edwin Lam, Director, International Services at Interac Corp. “We look forward to working with JCB to provide Canadian ABM access for over 130 million JCB cards in the market.”
“The arrangement with Interac will provide our cardmembers travelling to Canada with stable and secure service. We are looking forward to continuing working with Interac to deepen the relationship between the two companies” said Ryuji Shinzawa, President & COO of JCB International Credit Card Co., Ltd, the U.S. subsidiary of JCB International Co., Ltd.
The Interac Corp. International ABM Service enables foreign cardholders to withdraw cash at participating Canadian ABMs while visiting Canada. Currently, over 90% of Canadian ABMs are eligible participants in the International ABM service. Travellers to Canada holding a card from one of these payment networks can identify participating ABMs through the display of the PULSE, JCB or UnionPay International logo.
About Interac Corp.Interac Corp. operates an economical, world-class payments system with broad-based acceptance, reliability, security, and efficiency. The organization is one of Canada’s leading payments brands and is chosen an average of 16 million times daily to pay and exchange money. For more than 30 years, Interac Corp. and its predecessors, Interac Association and Acxsys Corporation, have facilitated secure financial transactions through the development of innovative and convenient debit and money transfer solutions. A leader in the prevention and detection of fraud, the organization has one of the lowest rates of fraud globally. Visit interac.ca or follow @INTERAC on Twitter. Interac Corp. has a diverse group of shareholders that includes banks, credit unions, caisses populaires, payment processors and merchants.
About JCBJCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/