|Tuesday, 31 October 2017, 12:00 HKT/SGT|
TOKYO, Oct 31, 2017 - (ACN Newswire) - JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd, the only international payment brand based in Japan has concluded an agreement with Taiwan Mobile Payment Co. (TWMP), a major mobile payment service provider, to accept JCB Card in Taiwan Pay twallet+, an HCE mobile payment platform *1.
Both parties see business opportunities in Taiwan's mobile payment industry. TWMP has been strengthening its service in alliance with international card brands, and JCB aims to enhance the convenience of mobile payment. The JCB-TWMP partnership enables registration of JCB Card in Taiwan Pay twallet+ provided by TWMP, allowing mobile payment at J/Speedy*2 terminals. They are planning to provide services for general consumers in the first quarter of 2018.
Daisuke Sakurai, Executive Vice President, Business Development & Coordination Headquarters I, said: "This is the first time in the world that JCB's J/Speedy, a contactless payment solution, has been rolled out as an HCE mobile payment service. The reason why we chose Taiwan as the first market is because it is a very important market, and the contactless infrastructure is so well placed that mobile payment business can be expected to expand greatly. Nowadays, a myriad of diversified mobile payment services are out in the market, and JCB will also be phased in. We selected Taiwan Pay twallet+, a high quality service, which has already been adopted by many issuers, as our first partner. We would like to work to provide this payment solution to many consumers in Taiwan in collaboration with TWMP and issuing banks."
TWMP Chairperson Yang-Ching Chao said: "We are delighted that JCB, the major payment brand, selected Taiwan Pay mobile payment as the first JCB HCE mobile payment service in the world. The Taiwan credit card issuing banks will be able to serve their JCB cardholders with Taiwan Pay. Taiwan Pay is now the only platform to provide mobile payment service with 3 major payment brands, JCB, Visa and Mastercard in Taiwan. We will do our best to provide convenience and secure mobile payment service to our customers."
*1 HCE mobile payment: Mobile payment using HCE (Host Card Emulation) by storing card information in the cloud and using NFC, the near field communication international standard. HCE mobiles can be used at J/Speedy merchants.
*2 J/Speedy: JCB brand contactless payment solution that is compliant with NFC and EMV(R) Contactless Communication Protocol Specifications. (EMV(R) is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo.)
JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. Currently, JCB cards are accepted globally and issued in 23 countries and territories. For more information, please visit: www.global.jcb/en/
Note: Statistics about JCB are as of March 2017.
Taiwan Mobile Payment Co. (TWMP) was established in 2014 by three switching/settlement institutions and 32 banks in Taiwan. TWMP launched its PSP TSM platform with "t wallet" app in 2014 and HCE & Tokenization with Taiwan Pay twallet+ app in 2016. As major Taiwan mobile payment infrastructure for financial institutions of Taiwan, TWMP platforms provide smart, efficient and secure tools to support Contactless Credit card and Contactless/QR Code Debit card. At present, 16 credit card issuing banks and 7 debit card issuing banks participate in Taiwan Pay platform. For more information, please visit: www.twmp.com.tw
JCB Co., Ltd.
Taiwan Mobile Payment Co., LTD
Senior Vice President
Tel: +886-2630-8181 Ext.200
Topic: Press release summary
Sectors: Cards & Payments, Wireless, Apps, Daily News, Regional
From the Asia Corporate News Network
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