JCB plans to first use the FIS Payments One switching and acquiring services platform to handle QR payments between Vietnam and Thailand, with plans to roll out across the APAC region.
FIS, a global leader in financial services technology, announced that an international payment scheme, JCB, has selected FIS’ Payments One switching and acquiring services to enable cross-border QR-code payments.
As consumers seek greater speed and convenience in their payment transactions, merchants are increasingly adopting QR codes and other digital payment types. The Worldpay from FIS 2020 Global Payments Report found that digital wallets now account for 58 percent of regional eCommerce purchases and are expected to reach almost 70 percent by 2023. Digital wallets also now surpass cash at the point-of-sale, accounting for 36 percent of in-store sales in 2019.
JCB, a leading international payment scheme based in Japan, was looking for a technology provider to help it drive acceptance of QR payments among consumers as part of its quest to be the preferred card brand.
The FIS Payments One switching and acquiring services platform is customizable across a range of device and payment types. With this new payment method integrated into the platform, FIS partner banks can quickly and easily enable JCB QR Code Payment for their client base.
“Improving the customer experience across the market is our number one goal.” said Kenta Seya, Executive Vice President, Global Network Implementation Department at JCB Co., Ltd. “By creating a cross-border solution, we look forward to creating a more consistent experience for JCB card members as they travel, allowing them to pay using their preferred method, no matter where they go. Working with FIS will give us the broad reach to their partner banks globally to achieve the goal.”
“By integrating QR payments for JCB cardholders through our Payments One switching and acquiring services platform, our partner banks will now have a way to deliver QR-based payments faster than before,” said Mahesh Ramamoorthy, Managing Director, Banking Solutions, FIS.
Worldpay from FIS has been supporting JCB’s merchant acquiring business internationally since the 1990s. In last December, FIS and JCB enabled card acceptance for Worldpay from FIS merchants in Japan, and this announcement further extends the companies’ partnership.
JCB – Key statistics
JCB Co. Ltd. was founded in Japan, in January 1961, with several major Business Areas: providing credit card operation services, financing, credit guarantee, collections, gift card and certificate issuing and sales.
Today JCB Card issuing network covers 23 countries and regions with an extensive global acquiring network: about 30 million merchants. As of March 2019, the company has a portfolio of 130.1 million cards issued, 99,9 million in Japan and 30.2 million outside Japan.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
