JCB International has inked a new licensing agreement with iSignthis Ltd., facilitating a new card offering that will enable Single Euro Payments Area (SEPA) for European Union (EU) merchants. The development is important as it reaches a base of over 100 million users, catering to EU-based merchants and fintech firms.
The new deal will support a License Agreement to process JCB’s SEPA transactions. SEPA payments are a key emphasis for many international payments processors, with a new joint offering looking to tap into a large client base. More specifically, JCB’s card services capabilities will team up with iSignthis RegTech services, enabling card acquiring, settlement, and processing services to EU merchants – the service will go live in Q4 2017.
Gateway to Europe
JCB’s decision to tether its services to iSignthis constitutes an effort to expand its global footprint across the Europe, Middle East, and Africa (EMEA) region, emphasizing its merchant acceptance network. This includes a collaboration with fintech payment processors, part of a broader initiative to support Japan as the 4th largest B2C global market for e-commerce.
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While JCB’s cards are already accepted at a number of global merchants, iSignthis’ RegTech services and processing suite will help support the joint offering as a dedicated service within the EU. This will see the assimilation of JCB card into its iSignthis’ Paydentity service with the goal of expanding the latitude and scope of both iSignthis’ merchant reach to Asian customers as well as JCB acceptance with EU merchants.
Tsuyoshi Notani, Managing Director of JCB International (Europe), commented on the deal: “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.”
“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,” noted John Karantzis, CEO of iSignthis.
“The JCB partnership is a further validation and extension of the PaydentityTM 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,” he added.