FIS (NYSE: FIS) today announced an agreement with JCB, the leading issuer and acquirer in Japan and a global payment network.
Worldpay, FIS’ global eCommerce platform, will allow businesses operating in Japan to accept payments by JCB cards. With this agreement, Worldpay now provides a comprehensive eCommerce solution for enterprise merchants operating in Japan.
Worldpay merchants selling online in Japan will now be able to streamline their payments technology and settlements by accepting more types of card payments through a single integration rather than multiple third-party contracts.
The eCommerce market in Japan is growing rapidly. Worth an estimated JPY17.9 trillion ($162.8 billion) in 2018, the market is expected to grow 28 percent by 2022 as local and international retailers scale up their online offerings in Japan. To win in the booming marketplace, merchants operating in Japan can broaden their payments portfolio to give consumers the ability to pay in their preferred way.
Worldpay has been supporting JCB’s merchant acquiring business internationally since the 1990s.
“As we always seek ways to improve customer experiences among JCB cardmembers worldwide, partnering with a global eCommerce payments leader like Worldpay gives us wider exposure to the eCommerce firms doing business in Japan and international markets,” said Yutaka Nakazawa, Executive Vice President, Head of Acquiring Sales and Marketing - Partner Relations, JCB Co., Ltd. “By driving broader payments acceptance among eCommerce merchants, JCB stands to become the preferred method of payment as consumers shift to buying goods and services online.”
“Japan’s eCommerce market is set to be a powerhouse of growth over the next few years and being able to offer businesses a broad portfolio of card brands is key to merchant success in the region,” said Mark Heimbouch, President of Worldpay Merchant Solutions, FIS. “We are committed to delivering modern, leading-edge solutions in Japan and around the globe to help merchants run their operations more cost-effectively, connect with customers in more meaningful ways, and grow their businesses.”