An agreement between Japan Credit Bureau (JCB) International Co. Ltd. and Gazprombank will allow the Russian bank to issue and acquire JCB cards, the bank announced on Thursday.
The agreement comes after the Central Bank of Russia approved local operators for the Japanese credit card company on Oct. 16 as part of an effort to diversify electronic payment options after receiving sanctions from the U.S. and the European Union, the Shanghai Daily reported.
First Vice-President of the bank Valey Seregin said that the partnership with JCB will allow clients access to 1 million ATMs and multiple merchants from 190 different countries.
"Cooperation with JCB International is a significant step forward in the execution of the bank’s retail business strategy," Seregin said. "This cooperation unveils new prospects, and we are confident of success."
JCB cards will be available to Gazprombank customers by the end of January 2015.