JCB to Issue Joint Credit Card/Postal Savings Cash Card - Product Announcement

Credit card giant JCB plans to issue a card that combines the features of a credit card and a banking card for postal savings. The company will file a request with the Ministry of Posts and Telecommunications and expects to issue the cards in June. With this card, cardholders will be able to execute credit card payments through their postal savings accounts, deposit and withdraw funds from postal savings accounts, and pay for purchases as participating stores with debit terminals. Meanwhile, JCB International, the company's U.S. subsidiary, says that clients will be able to settle credit payments at U.S. post offices from mid-June. A deal was inked with the U.S. Postal Service on May 10. Initially, post offices in major tourist destinations, such as Hawaii and California, will accept JCB payments. Eventually, however, the national network of 33,000 post offices will accept JCB card as well.

Ref: COMLINE Business News, 05/10/99

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