The Asian Angle: A Profile of JCB International
Payment Schemes explained: gtnews invited JCB to describe their structured products and processes. JCB was established in 1961, and as a pioneer in credit card payment solutions for the Japanese consumer finance industry, continues to develop strategically creative new products and services in Japan and around the world. Since launching its own international development program in 1981, the company has attracted many of the world’s most reputable financial institutions as JCB partners, increasing its global merchant coverage and its card-member base. As the only Asia-based card to go international, JCB now has a solid foundation as one of the five international credit card brands, with the support of more than 320 financial institutions worldwide, 53.6 million card-members and 12.2 million associated merchants.
JCB’s long-term managerial plan launched in 2003, The JCB Vision 2010 of International Business: “Evolution for the Future”, targets comprehensive card-member base expansion through card issuing by partners in the Asian market. The plan also targets further growth of the merchant acceptance network throughout North America, Europe and the Middle East to enhance worldwide usability. In addition to the credit card business, the company is committed to broader development as a payment solution provider and as an operations provider, opening new markets.
The company’s services are designed to support card-members in every area of their lives. A central focus of JCB’s wide range of services is T&E (travel and entertainment), including JCB’s flagship service, the JCB Plaza. This a network of customer service lounges located in 31 major cities around the world that provide JCB card-members with a variety of information and reservation services as part of a full package of travel support.
As part of JCB’s ongoing efforts to develop new services to meet changing customer needs, the company has been a leader in the migration to EMV in the payment sector, launching J/Smart, JCB’s EMV-compliant credit application for smart cards in 1999 to answer the rising demand for increased security of private information and the prevention of card fraud. JCB recently acquired a one-third ownership in EMVCo, along with Visa and MasterCard. The company is committed to participating in the ongoing creation of common core definitions and payment applications for EMV cards and terminals worldwide.
JCB’s expertise in smart card technology is being applied to develop new payment solutions. For example, JCB’s Offica multi-function smart card solution for the corporate market incorporates contactless technology for employee identification, attendance tracking, office access control and cashless purchasing at cafeterias and vending machines. JCB’s QUICPay service for the consumer market provides advanced technology supporting offline contactless credit payment to a target market of supermarkets, convenience stores, taxis and other merchants where rapid payment is demanded.
Mobile applications in particular offer opportunities beyond simple payment systems for new and innovative functionality, representing a huge potential market. JCB has developed mobile solutions including Mobile Offica, an implementation of the Offica solution with NTT DoCoMo’s i-mode FeliCa Preview Service so that corporate employees can use their mobile handset instead of carrying a separate plastic card around the office. JCB also recently implemented a trial of the QUICPay contactless offline payment system with Tokyo-area taxi drivers, which also used NTT DoCoMo mobile wallet service handsets.
The company is also developing biometric authentication with a variety of pilot projects, including fingerprint verification for mobile Internet access, to card-member information and card use history. Even more exciting is the world’s first fingertip blood vessel authentication system for both access control and payment authorization at a new condominium in Japan.
Our success as a major international card brand, our growing card-member base and expanding merchant network, has not been achieved by the efforts of JCB alone but through close alliances with more than 320 of the world’s most reputed financial institutions.
JCB will continue to aim at a broader development through opening new markets and by providing even higher quality service and products to better meet customer needs.