MUFG Bank and JCB sign ASEAN strategic alliance MOU

MUFG Bank, Ltd. and JCB Co., Ltd. have signed a Memorandum of Understanding to form a comprehensive strategic alliance across the ASEAN region, according to a press release issued July 6, 2026.

The partnership aims to combine MUFG Bank's regional partner bank network and digital business investments with JCB's global payment network and merchant base to develop financial and payment services, with a focus on affluent customers and digital payments.

As an initial step, the two companies plan to issue a premium card product in Indonesia during fiscal year 2026, ending March 2027. The card is described as the highest-tier JCB card ever issued outside Japan and will be offered through MUFG Bank's partner bank relationships in the country.

The alliance also includes plans to explore cross-border payment solutions and mobile services by connecting MUFG Bank's digital finance investees with JCB's payment infrastructure. Both companies said they intend to broaden the partnership to include other Japanese companies operating in ASEAN.

MUFG Bank is a consolidated subsidiary of Mitsubishi UFJ Financial Group, Inc. JCB, headquartered in Minato-ku, Tokyo, operates an acceptance network of approximately 72 million merchants globally and reports more than 181 million cardmembers, primarily in Asian markets.

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