Stripe Inc. and JCB Co. have signed a memo of understanding for a global partnership enabling JCB card acceptance at all online merchants that use Stripe.
The deal extends Stripe’s reach in Japan, a market it entered in 2016, and to more than 110 million JCB cardholders living in 24 countries, according to a Thursday press release.
“Hundreds of thousands of Stripe businesses outside of Japan will also soon be able to accept payments from JCB customers,” said Claire Hughes Johnson, Stripe’s COO, in the release. Less than 6% of Japan’s commerce is online, which suggests a big growth opportunity for Stripe, Hughes added.
JCB launched its card business in 1961 and began expanding outside the country in 1981. Through alliances with hundreds of global banks, JCB has achieved broad acceptance, including at major tourist destinations around the world, JCB said on its website.