Japan-based card scheme JCB International and the Saudi National Bank (SNB) have allowed the acceptance of JCB Cards through over 306,351 POS terminals and 3,088 ATMs across the Kingdom of Saudi Arabia. The partnership is aimed to provide convenience for JCB's growing cardholders in the Middle East to benefit from the usage of their JCB Cards throughout the Saudi National Bank network across the Kingdom.

The move is expected to enhance the customer experience and financial inclusion in line with the Saudi Vision 2030, which is a plan to diversify the economy and reduce its dependence on oil exports. According to Ahmed Bassam Abu Khamsin, Head of Global Transaction Banking at SNB, the partnership is an important step in the Bank's endeavor to enrich the customer experience and move it towards new horizons of excellence with the best global banking solutions. SNB is a primary banking service provider that accepts a wide range of international payment and credit cards, including JCB Cards.

Yoshiki Kaneko, President and COO of JCB International commented in the official press release that given the evolving strategy of the Saudi Vision 2030 and the growing relationship between the two countries, the partnership will serve business and tourism requirements of JCB cardholders. The Saudi National Bank and boosting the banking sector The Saudi National Bank’s strategy is closely aligned with the Saudi Vision 2030 programmes. The JCB Card, Japan's only international payment brand, has more than 150.

5 million cards issued around the world and is a major global payment brand and a leading credit card issuer and acquirer in Japan. In recent years, digital payment solutions have gained significant traction in Saudi Arabia, as the country's government and financial regulators work to promote the use of digital transactions to reduce cash usage and enhance financial inclusion. According to a report by Mordor Intelligence, the digital payments market in Saudi Arabia is expected to grow at a compound annual growth rate (CAGR) of 16.

5% during the period 2021-2026, driven by factors such as government initiatives, technological advancements, and the growing adoption of mobile payments. In addition, the COVID-19 pandemic has accelerated the adoption of digital payment solutions as consumers and businesses shift towards contactless payments to reduce the risk of virus transmission. .