JCB partners with iSignthis to Enable SEPA Transactions
- Payments , Infrastructure
- 26.06.2017 04:45 am
JCB International Co., Ltd., the international operations subsidiary of JCB, is pleased to announce that Australian Securities and Frankfurt Stock Exchange listed iSignthis Ltd (ASX : ISX / FRA : TA8) (iSignthis), the global leader in remote identity verification, payment authentication and payment processing, has signed a direct License Agreement to process JCB transactions in the Single Euro Payments Area (SEPA). The partnership couples JCB card services with iSignthis RegTech services to offer card acquiring, settlement and processing services to EU/EEA merchants, creating new opportunities to generate sales with JCB’s 106 million card members worldwide. With this agreement in place, iSignthis services will be on-boarded to JCB during Q3 ’17 with JCB acceptance going live before the end of 2017.
JCB is rapidly increasing its acceptance footprint across EMEA by expanding its merchant acceptance network, particularly with e-commerce retailers, to support Japan as the 4th largest B2C global market for e-commerce by engaging directly with fintech payment processors. Currently JCB cards are accepted at merchants worldwide. iSignthis provides an end-to-end customer due diligence and on-boarding service for merchants, with a unified payment and identity service via its Paydentity™ and ISXPay® solutions, offering global reach to any of the world’s 3.5Bn ‘bank verified’ card or account holders.
iSignthis will offer the new service to EU/EEA based merchants, incorporating JCB card acquiring into Paydentity™, further extending both iSignthis’ merchant reach to Asian customers, and JCB acceptance with EEA merchants. iSignthis’ merchants include some of the world’s largest regulated fintech companies, in addition to technology and online ecommerce merchants.
Mr. Tsuyoshi Notani, Managing Director of JCB International (Europe) Ltd, said, "A true testament to our willingness and ability to engage with cutting-edge fintech businesses, this partnership with iSignthis is a significant step forward for JCB as we expand across every European market. As a gateway to the East, we offer European acquirers the ability to engage with Asian consumers, giving JCB card members greater freedom and flexibility when it comes to enjoying our services internationally.”
John Karantzis, CEO of iSignthis, said, “We are honored to be partnering with JCB, a leading issuer in Japan and a major international scheme. JCB is one of the world’s most trusted providers of payment technologies, which have been deployed to 106 million users. The JCB partnership is a further validation and extension of the Paydentity™ technology and its capabilities covering KYC remote identity, payment processing and authentication. The ISXPay JCB service will be offered to all eligible EU based merchants and fintech, seeking to access the JCB network of cards and credit solutions. At the same time, iSignthis will offer JCB card holders access to these merchants in a secure and verified environment. We plan to have JCB integrated by Q3 of this year, and transactions processing before the end of 2017. We are excited to be bringing this highly regarded Asian brand to the European fintech sector.”