JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd, today announced that JCB has launched EMV standardized QR Code Payment service.
JCB QR Code Payment is a new mobile payment solution for JCB cardmembers to scan the QR Code displayed at the merchant point-of-sale by their mobile phone. This merchant-presented QR Code Payment is a cost-efficient and easy implementation solution for JCB partner financial institutions and their merchants.
Bank SinoPac in Taiwan and Sacombank in Vietnam became the first banks to offer the JCB QR Code Payment service. SinoPac will start the service full scale at merchants who used to accept only cash such as fish markets, flower markets and taxis in January 2019 and expand new merchant base to more than 3,000. Sacombank has just announced its new mobile banking app "Sacombank Pay", for which their JCB Cardmember can choose JCB Card as a source of funds and will offer QR Code payment service at more than 2,000 merchants from 28th December 2018.
Daisuke Sakurai, Executive Vice President, Business Development & Coordination Headquarters I, said: "We are truly excited to introduce our new payment solution in one of the most advanced mobile payment markets, Taiwan and the most rapidly growing market Vietnam. JCB expects to offer this new service in at least more than 3 countries in Asia next year. We hope that JCB QR Code Payment service will not only help create a new payment mode/interface, but also become a strong tool to realize the cashless society."
Contributed | what does this mean?