With this partnership, JCB cards will be accepted at more than 70,000 Banamex merchants in Mexico starting this year.
Banamex is part of Grupo Financiero Banamex and member of Citigroup. It is a leading bank with a wide branch network of more than 1,540 branch offices and over 7,140 ATMs in Mexico, and is making remarkable progress in its card business with a large retail customer base.
This partnership allows both the merchants affiliated to Banamex to add a new brand as a sales opportunity, and JCBI to offer its over 89 million cardmembers wider acceptance in Mexico.
Mexico is a very popular destination with more than 29 million international tourists in 2014, up 20.5% over the prior year. In addition to tourism, Mexico’s auto industry has been booming and the country has become a hub for global automobile distribution, drawing an increasing number of business travelers.
Kimihisa Imada, Deputy President of JCBI, said, "Mexico is one of the most important markets for JCB’s global business expansion and we are pleased to welcome our new partner to the JCB network. I am certain this new partnership with Banamex will bring more benefits and convenience to JCB cardmembers visiting the country. We look forward to exploring further business opportunities such as card issuance in the near future."
Alejandro Gomez Urquiza Yarza, Cards and Acquiring Banking Head of Banamex, said "Banamex Acquiring Business has always looked for new technologies and alliances that allow affiliated merchants to increase their sales.
"We are sure this alliance with JCBI will support our objective. Also, our commitment to merchants service will ensure a satisfactory experience for the JCB cardmembers, both those currently residing in Mexico and those who travel for vacation or business. Banamex welcomes the JCB cards".
