JCB International (JCBI) and CardPay, a provider of e-commerce and transactional services, have signed a direct license agreement under which CardPay will acquire JCB’s e-commerce card transactions across the SEPA region.
Japan-based JCBI has a customer base of more than 100 million cardholders and nearly 32 million merchants accept its cards.
The agreement will allow both the companies to develop connectivity during the third quarter of 2017 and target to go live during the fourth quarter this year.
JCBI believes that the acquisition will increase its acceptance operation across the region by expanding its merchant acceptance network, including the e-commerce channel.
JCB International managing director of Europe Tsuyoshi Notani said: “We are delighted to sign this License Agreement for JCB e-commerce acquiring with CardPay. We are both aiming to capture the growth in crossborder e-commerce generated by Asian consumers.
“This is a great opportunity to give JCB cardmembers greater freedom to spend in more e-commerce retailers across Europe than ever before.”
CardPay head of acquiring and issuing Stanislav Podolyanchuk said: “We at CardPay are proud to join the JCB scheme and offer their payment solutions to our e-commerce clients.
“There is a constantly growing demand for JCB acceptance by European merchants and our cooperation with JCB will provide e-commerce merchants with a bespoke instrument for increasing online sales and expanding our clients’ base.”