JCB to work with FIS for cross-border payments

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Daniel Webber
Daniel Webber
Founder & CEO
Daniel is Founder and CEO of FXcompared and has 18 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely… Read more
  • JCB, which is based in Japan, will use FIS’s Payments One service to drive QR code payments.
  • JCB said that it chose FIS as a partner because of its international licensing permissions and technology capacity, among other reasons.
  • “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,” said a JCB spokesperson.

An international payment scheme called JCB has revealed its plans to work alongside fintech leader FIS to provide global QR code-powered online money transfers.

JCB, which is based in Japan, required a tech partner to help it accept QR payments as part of a strategic aim of becoming a chosen card provider.

According to a press release from JCB, the organisation chose FIS because it has a global presence and capacity for licensing in a number of places.

It also highlighted the technological capacity of FIS’s Payments One service, which will be the service it uses.

In a press release, JCB touched on the fact that Payments One can be customised on a variety of different devices.

“The FIS Payments One switching and acquiring services platform is customizable across a range of device and payment types,” it explained.

“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,” it added.

It is understood that JCB will start its usage of the Payments One “switching and acquiring” service for QR purposes in the Thailand/Vietnam payments corridor.

After that, it intends to spread this across the whole of the Asia-Pacific region, which is a major one for the payments industry with a high level of demand.

According to Kenta Seya, who is the executive vice president for the Global Network Implementation Department at JCB, the move will help JCB to give its customers “a more consistent experience”.

“Improving the customer experience across the market is our number one goal,” Seya said.

“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,” Seya added.

On the part of FIS, the firm’s managing director for banking solutions Mahesh Ramamoorthy said that the banks that FIS partners with can now “deliver QR-based payments faster than before”.

“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,” he said.

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