JCB International Co., Ltd. (JCBI), international operations subsidiary of JCB Co., Ltd., announced the launch of J/Speedy that will make the payment more convenient and faster than ever.
J/Speedy uses the NFC(1) technology, global standards for proximity communication and the EMV chip technology which provides enhanced security feature.
JCBI accelerates both the merchant acceptance for J/Speedy and the J/Speedy card issuing through JCB partners worldwide, while JCB, as a credit card issuer, will begin J/Speedy card and mobile issuing in Japan in 2015 through feedback from the pilot program to test feasibility, which is planned to start in Tokyo in July 2014.
Customers simply tap the J/Speedy card or other J/Speedy embedded device close to the merchant terminal reader for quicker payment without signature on the receipt. International NFC payment protocols make it possible to enable J/Speedy acceptance around the world, while EMV technology ensures highly secure payment transaction. In addition to plastic cards, J/Speedy can be issued for a wide variety of devices, including mobile and wearable devices, for a whole new range of JCB brand contactless payment possibilities. Existing JCB contactless payment solutions include QUICPay using FeliCa(2) technology for Japan and a J/Speedy solution for Taiwan domestic use only. The new J/Speedy solution is an upgrade of the Taiwan specs to support a cross border transaction.
Tac Watanabe, Executive Vice President, Infrastructure & Technologies HQ of JCBI, commented, " As card payment markets develop in emerging economies in Asia and smartphones become widespread, the need for contactless card and mobile payment is growing. To meet its expectation in such new technology based payments, we will continue to provide a wide variety of payment services through worldwide market, as well as build a payment infrastructure in Japan for inbound travelers."
1 NFC "Near Field Communication" proximity communication international standard includes Type A, Type B and Felica protocols.
2 FeliCa registered trademark for contactless chip developed by Sony.