MUMBAI National Payments Corporation of India (NPCI) and JCB International Co. Ltd, a subsidiary of Japan's JCB Co. Ltd., are entering into a partnership for payment cards issuance and acceptance.
Under the pact, JCB cards will be accepted at all NPCI locations in India. The partnership will also include the issuance of RuPay/JCB international cards by NPCI member banks that will be globally accepted through the JCB network, the two companies said in a joint statement on Monday.
The two sides target to launch JCB acceptance business in India around the middle of next year and RuPay/JCB International card issuing business later in 2016.
NPCI also has another partnership with US-based Discover Financial Services card network for international acceptance of RuPay cards.
(Reporting by Devidutta Tripathy; Writing by Swati Bhat; Editing by Sunil Nair)