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Japanese payment system to issue 3mn cards in Russia by end of 2016
Japan Credit Bureau (JCB) has agreed to cooperate with some of Russia’s banks, including VTB, and start issuing joint payment cards by the end of 2016, according to CEO Takashi Suetsugu.
"We are ready to discuss the project of joint payment cards  with the National Payment Card System," said the company’s  CEO Takashi Suetsugu.
"We’ve already signed agreements with three Russian banks,  including Gazmprombank, Alfa-Bank and VTB,” he said.   “But we would also like to cooperate with one of the biggest  players in this market, for example with Sberbank.”
Suetsugu added most partners plan to issue the first JCB cards at  the end of December-January. So, by the spring, several banks  will be cooperating with JCB.
“We are discussing the possibility of cooperating with more  than 15 potential partners that occupy 80 percent of the payment  market,” he said.
In the spring, Visa and MasterCardstoppedservicing Russia’s sanctioned Rossiya  and SMP banks and their subsidiaries. This prompted Russia to  speed up efforts to create its own national payment system.
Bank Rossiya started issuing bank cards using Russia’s domestic  universal electronic card (PRO-100) payment system in early  November.
A number of banks decided to cement relations with the Chinese  system, UnionPay, and Japan’s JCB. In October, the CBR (Central Bank of Russia) registered JCB  International Eurasia LLC, JCB’s payment operator.

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