Tokyo, July 9 (ANI): Japan’s JCB International and National Payments Council of India (NPCI) have entered into a strategic partnership for JCB Acceptance and Card Issuing in India.
NPCI provides RuPay, a domestic card payment network countering Visa and MasterCard.
The agreement, which will initially enable the JCBI cardholders to transit in all ATMs and credit card swipe machines in India, will eventually enable the Indian issuers to come out with cards that can be accepted globally without going through the visa or MasterCard network.
In the first stage of the agreement between the JCBI and NPCI, over 10 lakh card-accepting terminals and 2,00,000 ATMs across India will be made available to the JCBI cardholders.
Around 165 million RuPay domestic cards have been issued by 426 banks in India.
“The visitors from Japan are many and the economic relationship is emerging and growing. Since we have built the massive infrastructure with the cooperation of the banks, the network must be of privilege. We would like to support the member banks so that their infrastructure will be utilized to the maximum,” said A.P. Hota, Managing Director and CEO, NPCI.
India is a growing economy and JCB considers it to become one of the world’s leading consumer markets.
The debit and credit cardholders in the country are also growing steadily.
“We believe our extensive card acceptance network and customer oriented services across the world will be a strong feature of RuPay/JCB international cards. We would love to by-implant important product in promoting RuPay cards throughout the world and contribute to the NPCI member banks by providing unique and expensive values of JCB Brand,” said Kimihisa Imada, Deputy President, JCB International Co.
Japan is also finding new partners in the manufacturing sector.
Yamaha showcased the newly developed linear conveyor module for manufacturing line at a recently held Manufacturing World Japan expo.
Comparing to conventional conveyor, the linear conveyor can freely manipulate a slider on which the products are moved. It achieves more advanced convey.
“This is already used in factories across Asia, including in Thailand and China. It is suitable for large-scale production like manufacturing mobile phones,” said Nagashima Ryuzo, Sales Office Manager, Yamaha Motor Co. Ltd.
Suga Systems Inc. showcased a 3D printer called “LOGSITE”, a suitable product for business or educational purpose. The printer is equipped with special heater for quicker production.
“I have been involved in making 3D printers from the beginning of this industry. With that knowledge, we especially want to put focus on educational industry like introducing this machine to schools and raise the level of Japanese manufacturing industry,” said Tokuzo Suga, a representative of Suga Systems Inc.
The Japanese companies are fast expanding their base by joining hands with local companies throughout Asia. It not only helps the Japanese firms to grow, but also helps them in introducing advanced technology to their partner firms in the Asian subcontinent. (ANI)