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    Question

    Which organization will partner with JCB International

    Co to offer 40 percent cashback to RuPay JCB cardholders on in-store purchases?
    A National Payments Corporation of India (NPCI) Correct Answer Incorrect Answer
    B Reserve Bank of India (RBI) Correct Answer Incorrect Answer
    C State Bank of India (SBI) Correct Answer Incorrect Answer
    D Indian Bank Association (IBA) Correct Answer Incorrect Answer
    E Securities and Exchange Board of India (SEBI) Correct Answer Incorrect Answer

    Solution

    As per the information give below, the correct answer is option A. Japan's international payment brand JCB International Co will partner with National Payments Corporation of India (NPCI) and offer 40 per cent cashback to RuPay JCB cardholders on in-store purchases, the company said in an official release. RuPay and JCB announced the third phase of a limited-time cashback campaign for all RuPay JCB Debit and Credit Cardholders. During the offer period, customers using a RuPay JCB Card will receive 40 per cent cashback on purchases made at retail stores in the UAE, Thailand, Malaysia, and Spain. In-store purchase means a face-to-face point of sale (PoS) transaction made at a merchant location. The offer will be valid from May 15 to August 15, 2023. The maximum cashback amount per transaction will be Rs 3,000, with an overall cap of Rs 15,000 per card during the offer period. Yo Sato, senior vice-president, JCB International said, “Continuing on our journey to offer unparalleled experiences to our cardmembers, we are delighted to announce the launch of our third cashback campaign in the UAE, Thailand, Malaysia, and Spain. During summer holidays, we anticipate a high flow of tourists to these locations and this offer will make our cardmembers’ vacation more rewarding and memorable when they shop at merchant outlets in these locations.”

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