JCB cards to be accepted by Ukrainian PrivatBank in spring 2020
JCB enters the Ukrainian market, signing a License Agreement for building the JCB card acceptance network. Largest Ukrainian bank PrivatBank and JCB signed a partnership, thus developing joint intentions for further cooperation.
Since spring 2020, all JCB cardholders traveling to Ukraine will be able to make purchases at merchants, using their JCB cards. 14,2 million travelers have already visited Ukraine in 2018, according to the Economic Development and Trade Ministry of Ukraine, whereas in 2019 the number of visitors would increase up to 17 million.
This partnership is expected to be profitable both for JCB and PrivatBank for several reasons. JCB will give over 130 million cardholders a wide acceptance in Ukraine, and PrivatBank will be able to add a new brand as an additional merchant opportunity.
PrivatBank claims to be the leading bank of Ukraine with a wide network of over 7,300 ATMs and 200,000 POS-terminals.