JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., today announced an extension of its collaboration with global financial technology leader FIS (NYSE: FIS) and its merchant solutions business, Worldpay from FIS, to enable JCB Contactless for its UK merchants in the largest JCB contactless deployment in the UK to date.
In 2023, almost 20% of Worldpay Point of Sale (POS) systems in the UK are now equipped to accept JCB contactless payments. As part of JCB’s mid-term plan, the next stage will see JCB Contactless enabled across on the remaining 80% of Worldpay terminals across the UK, with full rollout expected to be completed by the end of 2024.
JCB Contactless is JCB’s contactless payment system that allows customers to shop by simply holding their JCB Card or JCB-card-enabled smartphone or other devices over the store terminal. JCB Contactless is based on the global chip standard ‘EMV(R),’ offeThe Queens headring a high level of security.
The recently published Worldpay from FIS Global Payments Report found cash use continues to decline at POS, with contactless payments in the form of digital wallets and contactless cards on the rise. In the UK, cards and digital wallets combined accounted for 86 % of POS spend. As such, more and more merchants in the UK are looking towards a cashless future, with comprehensive contactless payments emerging as a critical function. Enabling JCB Contactless will help Worldpay meet the increased demand for comprehensive contactless acceptance amongst its merchants.
Worldpay’s UK merchants which enable JCB Contactless will be able to further tap into the sales opportunities of JCB’s 154 million cardmember community. The fast, secure and convenient payment process for cardmembers, combined with the higher average transaction value of contactless, will help merchants increase their sales opportunities.
Ray Shinzawa, Managing Director for JCB International (Europe) Ltd., said: “We are delighted to see the next stage of this ambitious project come to fruition, further reinforcing our collaboration with Worldpay. We look forward to continuing to work together in enabling JCB Contactless across the entire Worldpay POS ecosystem.”
Nick Fisher, General Manager, UK, JCB International (Europe) Ltd., said: “By offering a greater variety of contactless options to their merchants, Worldpay’s merchants will benefit from an enhanced customer experience. The payment preferences of consumers across the region are changing rapidly, and JCB is proud to be working with leaders like Worldpay to enable the future of payments.”
Chris Wood, General Manager for SMB International, Worldpay Merchant Solutions, FIS said: “With our research showing consumers are switching to contactless payments, it’s crucial we provide them with the ability to pay with their preferred payment method whenever and wherever they want. Our collaboration with JCB will enable this, simplifying our merchants’ payments acceptance, and accelerating growth.”