Post Bank, JCB ink acquiring agreement in Russia

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Moscow-based JSC Post Bank has established a merchant acquiring agreement with JCB International to allow JCB cardholders to withdraw cash from all of the bank's ATMs and make payments at Post Bank point-of-sale terminals in Russia.

Established through VTB Group and Russian Post four years ago, JSC Post Bank has more than 55,000 terminals in its regional network of Russian Post locations, which includes 19,000 bank service locations as well as sales windows at Russian post office locations.

"Post Bank is actively developing cooperation with payment systems to provide convenient payment services and tools," Elena Mokhnacheva, member of the board and chief operating officer of Post Bank, said in a Wednesday press release. "Thanks to the partnership with JCB, more cardholders will now be able to use our ATMs and POS-terminals."

The project, which started operation this month, was implemented with the technological support of MultiCarta, a processing company handling software updates, testing and coordination with the payment system.

Tokyo-based JCB is a leading credit card issuer and acquirer in Japan since 1961 and worldwide since 1981. Its acceptance network includes more than 34 million merchants in the world. JCB cards are now issued in 24 countries and territories, with more than 140 million card members.

"Post Bank's ATMs and POS terminals are installed in almost all post offices throughout Russia, which is very convenient for both bank customers and JCB cardholders," Takashi Suetsugu, general director of JCB International LLC, said in the release.

"We are glad that Post Bank, one of the largest universal banks in Russia, started accepting JCB cards," Suetsugu added. "We are committed to providing comfortable service for our cardholders and our cooperation with Post Bank is a new step forward in achieving our goals."

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