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Japan-Update

Japan's JCB stops issuing new credit cards in the US

Resources will be concentrated on Asian operations

TOKYO -- Japanese credit card company JCB is no longer issuing new credit cards in the U.S. as the company redirects business resources toward beefing up Asian operations.

JCB is thought to have issued tens of thousands credit cards in the U.S. since 1989, mainly to Japanese expatriates, but will quit such operations due to sluggish growth. The company will keep its U.S. subsidiary to manage participating merchants.

JCB also stopped issuing new cards in Dubai in 2014. It currently has no plans to end card issuance anywhere else.

JCB has issued cards in 23 countries and regions, including the U.S. In 2006, JCB and U.S. credit card company Discover Financial Services formed an alliance granting each other access to their domestic retail networks. JCB-brand cards can now be used in over 90% of U.S. stores.

(Nikkei)

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