back Back

Riyad Bank partners with JCB International in Saudi Arabia

By Edil Corneille

October 27, 2020

  • Jcb International
  • Riyad Bank
  • Saudi Arabia
Share

Riyad Bank, Saudi Arabia, JCB Cards, online, bankingRiyad Bank signed a partnership agreement with JCB International to enable the acceptance of JCB cards at all Point of Sale systems, online and ATMs throughout the Kingdom of Saudi Arabia.

As part of a push to make the Kingdom a cashless society and support for financial inclusion that is both in line with the aims of the Saudi Vision 2030, this partnership will enable JCB Cardholders to use JCB Cards through Riyad Banks’s network for Point of Sale and ATMs across Saudi Arabia. This is aimed at providing greater convenience for JCB’s globally increasing cardholders in Islamic markets such as Bangladesh, Bahrain, India, Indonesia, and Pakistan.

“I am delighted to announce this partnership in consideration of the Vision 2030 and the ever-closer relationship between Saudi Arabia and Japan,” Yoshiki Kaneko, President & COO of JCB International Co, Ltd. said. “Along with the introduction of the tourist visa program last year, which offers visas to citizens of 49 countries, a larger number of JCB Cardholders is expected to visit Saudi Arabia on top of our Muslim cardholders in Asia. We position Saudi Arabia as the most significant market for expanding our business in the Middle East. I am certain this partnership will benefit both our cardholders and Riyad Bank’s merchants for their convenience and in terms of the opportunity with the new payment option.”

Mohammed Abo Al-Naja, Riyad Bank Executive Vice President Corporate Banking mentioned, “It is our pleasure that we are one of the first Banks in the Kingdom to avail the acceptance of JCB Cards at its merchant locations. The partnership is in line with the Vision 2030 in promoting a cashless economy. This move would greatly benefit pilgrims visiting from the Far East where our partner JCB has a strong presence, and the ever-increasing number of tourists visiting the Kingdom. JCB Cardholders will have the option to use their cards in a wide range of outlets capitalizing on our leadership position in the market. Furthermore, this complements our strategy and vision to bring to the market the latest and most innovative offerings while addressing the needs of our merchants and the market.”

Previous Article

October 27, 2020

Top 5 Building Societies in the UK (October 2020 ranking)

Read More
Next Article

October 27, 2020

Paxful partners with Bnext to help drive financial inclusion in Mexico

Read More






IBSi Daily News Analysis

cybersecurity,

June 20, 2024

Jcb International

Why predictive AI is a critical necessity in the field of cybersecurity

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

4 Open Banking platforms shaping the future of financial data in the US

Read More

Today

Natwest snaps up Sainsbury’s banking business in £2.5b deal

Read More

Today

Mbanq joins IG Tech Cambodia to expand BankTech & BaaS solution in SEA

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023