Malaysias Public Bank Starts JCB Merchant Acquiring

Public Bank, founded in 1965, is one of Malaysias largest integrated banking groups offering a comprehensive array of financial services which include commercial banking, merchant banking, offshore banking, and credit/debit card services. Public Banks full merchant network acceptance for JCB is expected to be completed in phases throughout the year. In 1985, JCBI signed a licensee agreement with HSBC in Malaysia, followed by partnerships with Malayan Banking Berhad in 1995, and Southern Bank Berhad in 1998 for both merchant acquiring and card issuing operations. With the launch of acquiring business with Public Bank, JCB brand business continues to grow in Malaysia, offering more convenience to JCB cardmembers from abroad and to the increasing number of JCB cardmembers in Malaysia itself. With the extension of this agreement, both parties are confident of the mutual benefits for JCB cardmembers and Public Bank merchants, and are committed to working closely for future business collaborations. The Langkawi islands and other beautiful resorts make Malaysia one of the most popular destinations for world travelers. According to the Japan National Tourist Organization, about 300,000 Japanese visited Malaysia in 2004, a significant increase of more than 41% from the year before, while the warm climate and availability of longer-term visas are attracting more and more Japanese retirees for longer stays not only in Kuala Lumpur but in resort areas such as Penang Island and the Cameron Highlands. With the recent signing of the Free Trade Agreement between the two countries, the future should see even stronger growth in travel from Japan to Malaysia.