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JCB Credit Card Linked to Bank's ATM System
All Japan Credit Bureau (JCB) credit card holders in China are now able to withdraw money on the ATMs (Automatic Teller Machines) of the Bank of China (BOC) with the opening of related business by the bank Monday.
By doing so, BOC has become the first domestic bank to have its ATM system serving holders of VISA, MasterCard, American Express and JCB cards.
"The linking of the ATM system with JCB card aims to meet the increasing demand of overseas travelers and business people for convenient payment with JCB cards in China," a spokesman with BOC said.
The Japan Credit Bureau (JCB), one of the world's top five credit card brandnames, started cooperation with BOC in 1982, when direct payment with JCB card to make shopping purchases were made possible.
The JCB has also signed agent-bank agreements with the Industrial and Commercial Bank of China, the Construction Bank of China and the Bank of Communications. JCB cards are now accepted by 25,000 businesses in China, involving an annual transaction volume of 400 million yuan.
The BOC issued China's first credit card in 1986, and after 15 years, the number of its credit cards is over 25 million.
The BOC plans to issue an additional 3.7 million credit cards annually in five years, bringing the total number to 42 million cards by 2005.
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