NEW 'MY DREAM JCB CARD' LAUNCHED IN RP
Manila, June 26, 2003 (Star) The Philippines’ major credit card company Bankard Inc., in partnership with JCB International Co., Ltd., launched the new My Dream JCB Card on April 29, 2003. The credit card market in the Philippines currently has only about 3.5 million credit cards for a population of 76 million, significant room for growth. The first JCB brand card was issued in 1996 by RCBC, followed by JCB partnerships with Equitable Cardnetwork in 1997 and with Bankard in 2001. Credit card issuing in the market until now has focused primarily on the affluent sector of society.
The new My Dream JCB Card has a uniquely low annual fee of 800 pesos, compared to the usual P1,200 – P1,500, and a finance charge rate of 2.5%, compared to 3.25 – 3.5%. These advantages are combined with the added-value of the independent JCB international credit card brand to provide benefits to Bankard customers not offered by any of the other brands. In addition, not only will JCB brand recognition rise in the market, but also the credit card market itself is expected to grow with the issuance of this new card.
JCB is an international credit card brand and the largest card issuer/acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding overseas in 1981. Its merchant network includes 10.43 million merchants and spans 189 countries and territories. JCB cards are now issued in 18 countries and territories, with 45 million cardmembers. As part of its international growth strategy, JCB has formed alliances with more than 320 leading banks and financial institutions globally to increase merchant coverage and cardmember base. JCB’s corporate philosophy of "Service from the heart", a commitment to responsive, high-quality service, continues to guide it as it creates the future together with its customers, merchants and partners. For further information, please visit the JCB International homepage at http://www.jcbinternational.com.
Reported by: Sol Jose Vanzi
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