Banco Nacional de México, Integrante del Grupo Financiero Banamex (Banamex), Japan’s JCB have inked a deal for a JCB merchant acquiring business in the Mexican market. With this partnership, JCB cards will be accepted at more than 70,000 Banamex merchants in Mexico starting this year.
Banamex is part of Grupo Financiero Banamex and member of Citigroup. It is a leading bank with a wide branch network of more than 1,540 branch offices and over 7,140 ATMs in Mexico, and is making remarkable progress in its card business with a large retail customer base. This partnership allows both the merchants affiliated to Banamex to add a new brand as a sales opportunity, and JCBI to offer its over 89 million cardmembers wider acceptance in Mexico.
Mexico is a very popular destination with more than 29 million international tourists in 2014, up 20.5% over the prior year. In addition to tourism, Mexico’s auto industry has been booming and the country has become a hub for global automobile distribution, drawing an increasing number of business travelers.
On June 2, 1884, the merger of Banco Nacional Mexicano and Banco Mercantil Mexicano gave life to the Banco Nacional de Mexico (Banamex). In August 2002, after meeting the requirements of U.S. and Mexican authorities, Banamex joined Citigroup, a leading global financial institution with presence in more than 100 countries. From November of the same year, branches, products and services of Citibank and Banca Confia (originally part of Citibank Mexico) joined the technological platform and Banamex service.
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