Fri, Jul 21, 2017 | updated 08:17 PM IST

JCB takes advantage of India's push for cashless economy

Updated: May 18, 2017 12:51 IST      
JCB takes advantage of India's push for cashless economy

New Delhi [India] Yangon [Myanmar], May 18 (ANI): India, with its large population and rapidly growing economy, has become a key market globally.

In the future, a cashless market is expected to grow through the usage of credit cards and mobiles.

The National Payments Corporation of India (NPCI) and JCB International Co. Ltd. (JCBI), the international operations subsidiary of JCB Co. Ltd, recently operationalised acceptance of JCB payment cards at ATMs and point of sale (POS) terminals in India.

This development has enabled JCB to serve an increasing number of tourists and business professionals with payment options at ATM and POS in India, especially from Asia where JCB has large number of card members.

The total card member base of JCB is about 101 million spanning across 23 countries and territories.

In April 2017, JCB established a subsidiary in Mumbai, the largest city in India, to further strengthen the alliance.

In the future, JCB plans to issue a JCB-RuPay card that is available at JCB merchants worldwide in cooperation with the payment service Rupay to be provided by NPCI in 2018.

This JCB-RuPay card will work as a RuPay card in India and as a JCB card outside the country.

Ichiro Hamakawa, President and CEO, JCB Co., Ltd., said, "Our current focus is expanding business in Asia. India, with its very large population and fast grown economy, is an extremely important market for JCB. This business launch is a remarkable step in the history of our global business. NPCI bring a revolution in how people make payment in India, meanwhile, JCB has played a key role in shaping today's Japanese payment industry. I see enormous possibility in the collaboration of two pioneering companies."

Japanese seasonings and processed food of Ajinomoto have been well known amongst people of Myanmar for more than 80 years.

Ajinomoto recently setup a new company in the Thilawa Special Economic Zone (SEZ) with Myanmar FDA approval.

"AJI-NO-MOTO" seasoning is produced through fermentation, a process similar to that used to make cheese and yogurt from milk. The seasoning uses natural products such as tapioca starch and sugar cane molasses, making the product a 100 percent natural.

The Joint FAO/WHO Expert Committee on Food Additives (JECFA) has placed the product in the safest category. Acceptable Daily Intake (ADI) is not specified based on extensive scientific data.

Ms. Htay Htay Win, a restaurant staffer, said, "Our restaurant opened in 1986 with a few employees. We now have about 50 employees since our restaurant has become quite popular today. We serve over 50 kinds of curries to our customers. We have become ever more popular with customers because of our cooking with high grade quality rice, cooking oil, shrimp, and "AJI-NO-MOTO" seasoning with selected fresh meat and vegetables. There is nothing else."

Satoshi Ogawa, Managing Director, Myanmar Ajinomoto Foods Co., Ltd., said, "By setting up our new company it comes possible for us to communicate with Myanmar people directly. We will pursue deliciousness for Myanmar people and through our products and activities we will make our maximum effort to contribute to Myanmar people's "Eat Well, Live Well"."

Lily Htun Aung, Manager, Sales and Marketing Department, Myanmar Ajinomoto Foods Co., Ltd.,"AJI-NO-MOTO" makes me remember my mother's taste. I am very happy and proud of working with Ajinomoto because it has been always with Myanmar people."

Quality food products create a happy and healthy life for all families. (ANI)

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