|Wednesday, 7 October 2015, 11:00 HKT/SGT|
|First global payment brand to use palm vein authentication|
TOKYO, Oct 7, 2015 - (ACN Newswire) - JCB Co., Ltd. ("JCB"), the only international payment brand based in Japan, will be conducting a trial of payment using palm vein authentication in corporation with Fujitsu Limited and Fujitsu Frontech Limited. The trial will be held at the JCB World Conference in October, an event attended by JCB partner companies and financial institutions from around the world.
Payment by palm leverages the JCB global network with Fujitsu's palm vein authentication technology, one of the most accurate biometric authentication technologies in the world. After linking a palm vein pattern and payment card information, customers can make a simple, fast and secure payment by using palm. Multiple cards can be linked to one pattern, and customer does not need to bring his or her wallet or any mobile payment device.
Palm vein authentication is highly accurate (see "About Palm Vein Authentication"), and already being used for many applications such as bank ATMs and high security area access control systems. Incorporating this authentication method with the JCB global network will create the world's first payment way of its kind.
In addition to the trial at JCB World Conference in October, JCB has already conducted a trial of, involving several hundred employees at the JCB headquarters in Tokyo in July 2015.
"We are planning pilots in different global markets in order to develop a unique biometric-based program using the most secure accurate palm vein authentication, followed by the trial at the JCB World Conference. I am confident that this new payment method using innovative technology will be in line with the needs of JCB customers and partners around the world," Tac Watanabe, Executive Vice President, Brand Infrastructure & Technologies of JCB, said.
About JCB's Payment by Palm
About Palm Vein Authentication
Vein patterns are an internal source of biometric information, which is very hard to counterfeit compared to external sources such as fingerprints. In addition, palm vein authentication is not affected by whether the hand is wet or dry. The large number and complexity of veins in the palm ensure highly accurate identification while the larger veins aid in reliability. Misidentification occurs in less than 1 in 1.25 million cases (False Rejection Rate 0.01% and False Acceptance Rate less than 0.00008%, per Fujitsu Limited). Palm vein authentication technology is one of the most-watched biometric technologies, with a solid record of use by over 63 million people in 60 countries around the world (as of March 2015).
JCB is a global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 29 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 19 countries and territories, with more than 89 million cardmembers. As part of its international growth strategy, JCB has formed alliances with more than 350 leading banks and financial institutions globally to increase merchant coverage and card-member base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. More information about JCB is also available on the website: www.jcbcorporate.com/english
Note: JCB statistics are as of the end of March 2015.
Fujitsu is the leading Japanese information and communication technology (ICT) company, offering a full range of technology products, solutions, and services. Approximately 159,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.8 trillion yen (US$40 billion) for the fiscal year ended March 31, 2015. For more information, please see http://www.fujitsu.com.
About Fujitsu Frontech Limited
As part of the Fujitsu Group, Fujitsu Frontech Limited ties people and IT together through the development, manufacture and sale of front-end technology such as ATMs, banking terminals, POS and totalizator terminals, and public display devices. Fujitsu Frontech also delivers related software, system integration and outsourcing as part of its total solutions offerings. The company supports the security sector by offering products incorporating Fujitsu's latest palm vein authentication technology, and is actively involved in the development of key technologies in various fields, with a current focus on RFID systems. For more information, please see: http://www.fujitsu.com/jp/frontech/en/
JCB International Co., Ltd.
Topic: Press release summary
Sectors: Biometrics, Cards & Payments, CyberSecurity
From the Asia Corporate News Network
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