Significantly improving the payment environment for JCB card members visiting the country, the new agreement will widen the card acceptance, while card issuance with banks in Mongolia is likely to start soon.
The country’s central bank BOM began to establish a countrywide payment network in 2010 to meet the increasing demand for international and domestic payment card acceptance.
Since 1994, TDBM has been acting as the gateway to the JCB network, which is the only global payment brand based in Japan.
BOM deputy governor Batshugar Enkhbayar said cashless payments are one of the important functions for the financial system and the economy as a whole.
"We believe that JCB card acceptance in the country will expand both economic and financial cooperation between Japan and Mongolia," Enkhbayar added.
