JCB adds FIS tech for cross-border bar code payments
Japanese credit card giant JCB plans to use technology from FIS to enable cross-border QR code payments as digital wallet use rises across Asia.
JCB will integrate with FIS’ Payments One switching and acquiring services platform so that FIS partner banks can switch on payment acceptance of JCB’s QR codes, according to a Friday press release.
Initially FIS will enable JCB QR code payments between Vietnam and Thailand, with JCB planning to roll out the service across the APAC region in coming months, the release said.
Digital wallets account for 58% of regional e-commerce purchases around the world and are expected to reach about 70% by 2023, according to data in the recent Worldpay from FIS 2020 Global Payments Report, the release noted.
“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 Kenta Seya, executive vice president of JCB’s global network implementation, in the release.