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June 8, 2020

JCB selects FIS to broaden cross-border QR payment acceptance

Japanese firm JCB has selected FIS’ Payments One switching and acquiring services to drive acceptance of cross-border QR payments.

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 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
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The collaboration will enable FIS partner banks to offer JCB QR Code Payment methods to clients.

The Payments One switching and acquiring services is customisable for different device and payment types.

Initially, the plan involves utilises the FIS platform to enable QR payments between Vietnam and Thailand. Gradually, the service will be rolled out across the Asia-Pacific region.

JCB Global Network Implementation Department executive vice-president Kenta Seya said: “Improving the customer experience across the market is our number one goal.

“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.”

The partnership comes at a time when the use of digital wallet for making purchases is increasing. According to the Worldpay from FIS 2020 Global Payments Report, digital wallets now account for 58% of regional eCommerce purchases. The figure is expected to touch 70% by 2023.

FIS managing director Mahesh Ramamoorthy said: “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.”

Last week, Worldpay from FIS introduced Fraud Freedom service.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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