JCB extends partnership with Worldpay from FIS

Tuesday 19 December 2023 15:05 CET | News

Japan-based JCB has announced the extension of its partnership with Worldpay from FIS to provide JCB Contactless for its UK merchants.

Initially, the two companies partnered in December 2019 to enable businesses operating in Japan to accept payments by JCB Cards. This allowed Worlpay’s merchants selling online in Japan to simplify their payment technology and settlements by accepting more types of payments through a single integration as opposed to multiple third-party contracts.

Japan-based JCB has announced the extension of its partnership with Worldpay from FIS to provide JCB Contactless for its UK merchants.

JCB – Worldpay from FIS objectives

As of the announcement, the extension of JCB and Worldpay from FIS’ collaboration allows the largest JCB Contactless deployment in the region. Currently, approximately 20% of Worldpay Point of Sale (POS) systems in the UK can accept JCB contactless payments. As part of its mid-term plan, JCB Contactless will be enabled on the remaining 80% of Worldpay terminals across the regions, with the full introduction being projected to be completed by the end of 2024. By leveraging JCB Contactless, customers can make purchases by holding their JCB Card or JCB-card-enabled smartphone or other devices over the terminal present at the store. The company created the contactless payment system on the global chip standard EMV, which provides an increased level of security.

In its recently launched Global Payments Report, Worldpay from FIS observed that cash use is on a continuous decline at POS, while contactless payments via digital wallets or contactless cards are increasingly used by individuals. For example, in the UK, cards and digital wallets combined accounted for approximately 86% of POS spending. Considering this, merchants in the UK expect a significant reduction in cash use in the future, with contactless payments emerging as a substitute. By supporting JCB Contactless, Worldpay can meet the rising demand for contactless acceptance amongst its merchants. Additionally, the company’s UK merchants which integrate JCB Contactless can further benefit from the sales opportunities of JCB’s 154 million cardmember community. The two companies intend to support merchants in raising their sales by offering secure, efficient, and convenient payment processes for cardmembers, as well as higher average transaction value of contactless.

According to JCB’s officials, this phase of the project further solidifies the company’s collaboration with Worldpay, with both companies planning to continue their work to allow JCB Contactless across the whole Worldpay POS ecosystem. Furthermore, by providing varied contactless options to merchants, JCB and Worldpay intend to facilitate an enhanced customer experience for the latter’s merchants. Based on Worldpay’s report findings which determined that consumers are now preferring contactless payments, representatives from the company underlined the importance of providing them with their chosen payment method. The partnership with JCB focuses on supporting this by simplifying merchants’ payment acceptance and accelerating expansion.

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Keywords: contactless payments, mobile payments, payment methods, merchants, online payments, payments , EMV
Categories: Payments & Commerce
Companies: JCB, Worldpay
Countries: United Kingdom
This article is part of category

Payments & Commerce




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