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Digital Garage Group’s econtext ASIA and JCB Agree on the Capital and Business Alliance
Collaborating on Payment Solution Business and Expansion of JCB’s Merchant Network in Japan and Abroad
econtext ASIA Ltd. (Head Office: Hong Kong, Chairman: Kaoru Hayashi / CEO: Takashi Okita, henceforth econtext ASIA) which leads the online payment business of Digital Garage Group and JCB Co.,Ltd. (Head Office: Shibuya-ku, Tokyo, President and CEO: Takao Kawanishi, henceforth JCB) have agreed to sign a capital and business alliance to promote payment solution businesses and expand JCB’s merchant network in Japan and abroad. Based on this capital and business alliance, the two companies will take advantage of their respective strengths to further develop and grow their businesses with a focus on Asian markets where a significant growth the offline and online credit card use is expected.
As the only Japanese-born international credit card brand, JCB has partnered with the financial institutions in 15 countries and regions in Asia and expanded its merchant network throughout the world. JCB boasts 13.79 million cardholders overseas (as of December 2012, 134.0% Y/Y growth) and issues JCB-branded cards locally in Asian countries and regions such as China, Korea, Taiwan, Hong Kong, Thailand, Philippines, Singapore, Indonesia, and Vietnam while setting up local issuers in the countries such as Myanmar, Laos, and Bangladesh. JCB also continues to research on payment products including Prepaid Cards and Debit Cards that take advantage of its global network of merchants and financial institutions.
Established in Hong Kong in September 2012, econtext ASIA acts as an intermediate holding company responsible for the headquarters of the settlement segment of the Digital Garage Group. Its two subsidiaries, VeriTrans Inc. (Head Office: Shibuya-ku, Tokyo, Chairman: Kaoru Hayashi / CEO: Takashi Okita, henceforth VeriTrans) and ECONTEXT, INC. (Head Office: Shibuya-ku, Tokyo, Chairman & President: Kaoru Hayashi, henceforth ECONTEXT), represent one of the largest e-commerce (EC) payment platforms in Japan. In addition, it established an Indonesian joint venture in 2012 that would provide EC infrastructures, beginning its market development in Asia.
JCB and Digital Garage Group have already been providing a service that allows the use of JCB-branded credit cards as a payment method on the Japanese EC websites and have contributed to increasing the overall industry sales.
This capital and business alliance will allow the two companies to utilize their existing businesses and know-hows to maximize their synergies and develop business in the fields beyond EC.
1.Accelerating the expansion of domestic and overseas JCB merchants focusing on Asia
2.Jointly planning and developing payment solutions that make use of smartphones in Japan and abroad
3.Planning and promoting payment business in Japan and abroad
econtext ASIA will continue to form various alliances and strategic partnerships in the fast-growing Asian countries to develop payment services optimized for each region and contribute to the further development of EC infrastructures.
JCB aims to expand its overseas business by introducing new values through various partnerships.
【Collaboration outline of JCB and econtext ASIA】
【JCB Co,. Ltd.】
http://www.jcb.co.jp/
JCB is the only Japanese credit card brand that operates internationally. It also runs a variety of related businesses such as card issuing, acquiring and processing. Established in 1961, JCB began its global expansion on its own in 1981 and now has over 24 local offices and subsidiaries while partnering with major international financial institutions. With 23.53 million merchants throughout the globe and 79.11 million card holders in 16 countries and regions including Japan, it handles 15,106.3 billion JPY of transaction annually (all figures as of the end of year 2012).
【econtext ASIA Ltd.】
http://www.econtext.asia/
Established in Hong Kong in September 2012, econtext ASIA acts as an intermediate holding company responsible for the headquarters function of the Digital Garage Group’s payment segment and includes VeriTrans, one of Japan’s largest credit card payment providers, and ECONTEXT, one of Japan’s largest cash payment processors including convenience store payments. In Indonesia, econtext ASIA formed PT Midtrans, a joint venture with a local conglomerate, to provide e-commerce payment and infrastructure.
【Press Contacts】
Kiyotaka Harada
econtext ASIA Ltd.
ECONTEXT, INC.
info@econtext.asia