JAPAN, August 29, 2017 – Costco Wholesale Japan (“Costco”), Mastercard and Orient Corporation (“Orico”) today announced the acceptance of Mastercard cards at Costco commencing February 1, 2018 and the launch of a new co-brand credit card program.
Orico will become the exclusive issuer of Costco’s co-branded card and Mastercard will replace American Express as the credit card network for Costco in Japan beginning February 1, 2018. Costco’s new co-branded credit card will have no annual fee and will provide generous rewards and benefits to Costco members. The card will be accepted by all merchants worldwide that accept Mastercard credit cards, including Costco locations worldwide that accept Mastercard.
Costco will provide its members with additional information in the coming months regarding the anticipated transition from its existing credit card program and the details of its new co-branded card with Mastercard. Costco will continue accepting American Express for shopping at Costco in Japan until January 31, 2018.
Costco Wholesale Corporation (NASDAQ: COST) currently operates over 730 warehouses in eleven countries/areas; including the United States, Canada, Mexico, United Kingdom, Korea, Taiwan, Australia, Spain, Iceland, France and Japan. Costco is the world’s largest membership wholesale club with over 88.9 million cardholders around the world.
Costco currently operates 25 warehouses and 8 gas stations (Kaminoyama, Tomiya, Tsukuba, Gifuhashima, Chubu Airport, Hamamatsu and Kitakyushu) in Japan. One in Hokkaido (Sapporo), two in Tohoku (Kaminoyama, Tomiya), eleven warehouses in Kanto (Makuhari, Tamasakai, Kanazawa, Kawasaki, Iruma, Shinmisato, Maebashi, Zama, Tsukuba, Chiba New Town and Hitachinaka), four in Chubu/Hokuriku(Chubu Airport, Nonoichi, Imizu and Gifuhashima), four in Kansai (Amagasaki, Kyoto Yawata, Kobe and Izumi), one in Chugoku (Hiroshima) and two in Kyushu (Hisayama and Kitakyushu). Costco will open Hamamatsu Warehouse in Shizuoka pref. on September 1st, 2017 as 26th warehouse In Japan.
Mastercard (NYSE: MA), www.Mastercard.com, is a technology company in the global payments industry. Mastercard operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardAP and @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
About Orient Corporation (Orico)
The Orico Group consists of Orient Corporation (Orico or the Company), 14 consolidated subsidiaries and four associates accounted for by the equity method. The Orico Group’s main operations are consumer finance services. The Orico Group also offers a wide variety of other services to meet customers’ needs such as credit collection services, and credit-related outsourcing business. As one of the largest consumer credit companies in Japan, Orico provides installment credit services, credit cards and direct cash loans services, and bank loan guarantee services through a network of 112 domestic branches. These financial services are also available nationwide through more than 780,000 member merchants. Orico’s business dates back to 1954, when Hiroshima Coupon was founded. In 1974, all businesses were merged and succeeded by Orient Finance, the former name of Orico, which was incorporated in 1951.
Costco Wholesale Japan
Yuko Nakagawa, Marketing, +81-44-281-2600
Yoshiko Yeomans, consumer marketing & communications, +81-3-5728-5239
Daisuke Muraoka, Public Relations & Advertisement Dept. +81-3-5877-5071
Click here to subscribe to real-time alerts.