TOKYO - MUFG Bank, a subsidiary of Mitsubishi UFJ Financial Group Inc., and JCB Co. on Monday agreed to collaborate on business expansion in Southeast Asia by offering a new luxury credit card to affluent individuals in the region.
The firms plan to launch a top-tier JCB credit card in October through PT Bank Danamon Indonesia Tbk, an MUFG-affiliated bank in Indonesia, and also provide concierge services for travel to Japan as the number of wealthy elites in the region rapidly increases due to economic growth.
The services in partnership with other Japanese firms will include handling reservations at high-end restaurants, special seating at traditional Japanese festivals and sightseeing tours at regional destinations.
The services on offer will be equivalent to those of JCB's top-tier "The Class" card, with the new premium card highlighting traditional Japanese craftsmanship by featuring a "maki-e" lacquer decoration technique on a black background.
Another card will then be launched from the Bank of Ayudhya Public Co., an MUFG subsidiary in Thailand, sometime during fiscal 2027.
