Spain-based Banco Santander has announced the launch of JCB merchant acquiring services in Spain, which followed a license agreement with the card issuer’s subsidiary JCB International. The bank states that this will facilitate the acceptance of JCB at Santander-acquired merchants in Spain.

Mr. Yoshiki Kaneko, Deputy President, JCB International Ltd., said, “This partnership with Spain’s largest bank is a significant milestone in JCB’s mission to increase our acceptance footprint across Europe. JCB cardmembers can now enjoy shopping with a greater number of merchants in Spain, both online and at point of sale. With average transaction value in Spain on the rise for JCB cardmembers, we anticipate this partnership to facilitate growth for Spanish merchants, particularly in the luxury goods category.”

According to the supplier, the partnership will benefit JCB cardmembers by providing them access to Santander’s Spanish merchant base, thereby increasing its brand coverage as well as allow it to provide convenience and augmented services to JCB cardmembers.

Ruben Justel, Managing Director at Santander Espana Merchant Services, said, “JCB’s growing cardmember base and prominence in the tiger markets will be of great benefit to our merchant network in Spain as we welcome greater JCB acceptance. As the world becomes a smaller place and tourism figures increase, we’ve noticed that our merchants benefit from catering to international consumers and that includes a variety of payment methods. As the gateway to Asia, facilitating JCB acceptance was the next logical step in this progression.”

Recently, Banco Santander announced the issuance of a $20 million end-to-end blockchain bond which has been issued through the public Ethereum blockchain and allows the bank to tokenize the bond securely and registering it in a permissioned manner on the blockchain.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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