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JCB in Ukraine: how the new payment system can interest Ukrainians

The Japanese international payment system JCB Payment System will enter the Ukrainian market. It has become the fifth payment system in Ukraine whose payment organization is a non-resident.

JCB will provide acquiring services, cash withdrawals and payment for goods and services using payment cards of the system. This was reported by the National Bank press service.

JCB Payment System ranks third among all card payment systems in terms of the number of card acceptance points.

In addition, the entry of the system to the Ukrainian market will expand the possibilities for obtaining services in the payment market. In particular, this will affect the strengthening of relations between Ukraine and Japan.

What the JCB payment system offers

It is not yet known what terms and conditions the payment system will offer specifically to Ukrainians, but we can refer to the experience of other countries.

For example, in Russia JCB issues three types of cards—Classic, Gold, and Platinum in four currencies. Therefore, it can be expected that such a mechanism will work in Ukraine as well. Most likely, the cards will be hryvnia, dollar, and euro, perhaps the cards in yen will be added.

At the same time, in some countries the company issued special cards, for example, in the USA there is a separate card for California—Marukai Premium JCB Card with additional benefits.

  • Cashback abroad. In particular, JCB offers its clients a cashback function for transactions carried out abroad and purchases on the websites of foreign companies. It is 1% of the transaction amount.
  • Discounts for tourists. A discount can also be obtained when paying with cards for tours and air tickets through Japanese travel agencies and booking systems.
  • Other bonuses. In addition, JCB has a JCB Plaza Web discount program—offers from hotels, restaurants, shops, golf clubs, beauty salons, and more. The program operates in the United States, six European and 13 Asian countries. However, usually the bonuses are not significant, like a free cup of coffee.

However, the advantage is the spread of the payment system in Asia and the world, so it will be beneficial for travel lovers or those who travel on business trips.

Context. JCB payment system was established in Japan in 1961, and in 1981 became the first payment system from Asia to enter the international market.

In October 2019, Privatbank and JCB International signed an agreement on acquiring JCB payment cards in Ukraine. The launch of the payment terminals and ATMs chain was scheduled for the spring of 2020.

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