JCB and Checkout.com Extend Strategic Partnership, as First Payment Service Provider to Introduce JCB’s J / Secure (TM) 2.0 in UK

TOKYO and LONDON, September 7, 2021 – (JCN Newswire) – JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., and Checkout.com, the global payment processing platform, today announce hui the next evolution of their partnership with the deployment of J / Secure (TM) 2.0 which is EMV (R) 3-D Secure (EMV 3DS) compliant to Checkout.com merchants in the UK.

As the leading provider of business payment services in Europe, Checkout.com is the first licensed partner in the UK to launch J / Secure (TM) 2.0, JCB’s authentication program for cardless transactions. J / Secure (TM) 2.0 secures online commerce by adding an important identification step in the online shopping journey, which allows cardholders to directly authenticate their card with the issuer.

In 2017, JCB and Checkout.com announced their merchant acquisition partnership in 36 European countries and the United Arab Emirates. With the recent increase and demand from customers to shift to online retail spending, JCB and Checkout.com have extended their collaboration in the UK to include EMV 3DS, in the form of J / Secure (TM) 2.0 of JCB for e-commerce transactions in the future. EMV 3DS is a security protocol designed to provide an additional layer of security for online credit and debit card transactions to prevent fraud. According to recent research from Checkout.com, the UK loses over $ 2 billion a year due to the rejection of legitimate transactions as fraudulent purchases.[1].

This platform will provide a secure and convenient gateway for the 140 million JCB cardholders around the world to process their payments online. Additionally, it will allow retailers to reduce cart abandonment and serve as an opportunity for additional sales from new target markets and customers. It will also allow Checkout.com merchants to facilitate secure international card transactions, while increasing sales and reducing disputed transactions.

E-commerce sectors that will benefit from this solution include luxury retail, messaging, technology, and online money transfers, to name a few. With this extended partnership and the implementation of J / Secure (TM) 2.0, JCB and Checkout.com are unlocking the growing e-commerce gateway to Asia for online retailers across Europe. JCB data shows JCB cardholder spending in Europe between 2016 and 2019 increased by more than 300%[2], the most prolific spending peaks occurring in January, July and December 2019[3].

Vladi Artope, Head of Financial Partnerships at Checkout.com, commented: “We are delighted to be the first payment service provider to launch J / Secure (TM) 2.0 to merchants in the UK. The pandemic has accelerated the trends that we have long observed. in the transition to electronic commerce. Our long-standing partnership with JCB ensures that merchants are able to securely host the business of the 140 million JCB cardholders, providing a seamless payment experience for consumers and increasing revenues for our merchants.

Nick Fisher, Managing Director of UK Sales and Marketing, JCB International (Europe) Ltd., said: “The expansion of our partnership with Checkout.com across Europe has been driven by our established commitment to supporting electronic commerce internationally. In addition, online shopping is a This integration will allow us to streamline the digital payment journey of our cardholders and facilitate secure transactional exchanges between our cardholders and Checkout.com’s online retailers, especially more as we move into recovery and growth in the aftermath of the pandemic. “

[1] “Businesses at risk of recovery unless $ 20 billion online payments hole is plugged,” 2020 [Online] – https://bit.ly/3n6Tb1Z, (Consulted on 07/24/2020)
[2] JCB Proprietary Data (May 2020) and JCB’s White Paper “Ecommerce: Business Without Borders”
[3] JCB Proprietary Data (February 2020) and JCB White Paper “Ecommerce: Business Without Borders”

About EMV (R)

EMV (R) is a registered trademark in the United States and other countries and an unregistered trademark elsewhere. The EMV brand is owned by EMVCo.

About JCB

JCB is a leading global payments brand and a leading credit card issuer and acquirer in Japan. JCB started its card business in Japan in 1961 and began to expand worldwide in 1981. Its acceptance network includes approximately 36 million merchants around the world. JCB cards are now issued mainly in Asian countries and territories with more than 140 million cardholders. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions around the world to increase its merchant coverage and cardholder base. As a full-service provider of payment solutions, JCB is committed to providing responsive, high-quality product and service to all customers around the world. For more information: www.global.jcb/en/

About Checkout.com

Checkout.com empowers businesses to adapt, innovate, and thrive with the payment services they deserve. Company technology makes payments transparent. Flexible solutions, granular data, and instant information help global businesses launch new products into new markets and create exceptional customer experiences. They provide the fastest, most reliable payments in over 150 currencies, with in-country acquisition, fraud filters, and world-class reporting, through a single API. And they can accept all major international credit and debit cards, as well as popular alternative and local payment methods. Checkout.com was launched in 2012 and now has a team of 1,000 people in 17 offices around the world, providing local expertise where it’s needed. Learn more about www.checkout.com

Contacts:
JCB Press Service (JCB International / Europe)
Contact: India Stone
Email: [email protected]
Telephone: +44 020 7087 4754

JCB (head office in Japan)
Contact: Kumiko Kida, Ayaka Nakajima
Email: [email protected]
Telephone: +81 3 5778 8353

Checkout.com Press contact:
Contact: Lewis Jones
Email: [email protected]
Telephone: +44 799 0068 671

Source: JCB

Copyright 2021 JCN Newswire. All rights reserved.

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