ECONOMÍA DIGITAL

JCB launches QR payment service in Asia

27 de diciembre, 2018

Tiempo estimado de lectura: 4 minutos

Major Japanese card network JCB launched the JCB QR Code Payment Service, allowing its cardholders to scan QR codes to pay in-store at the point-of-sale (POS) throughout Asia, starting in Taiwan and Vietnam

Bank SinoPac in Taiwan and Vietnam-based Sacombank are the first two to partner with JCB on this service. Bank SinoPac has adopted the QR code solution and plans to begin deploying it in January to merchants that previously only accepted cash, like fish markets, flower markets, and taxis — with plans to eventually expand to 3,000 merchants. And Sacombank announced its new mobile banking app Sacombank Pay, which will allow JCB cardholders to choose JCB Card as a funding source for it, and the firm plans to offer JCB’s QR payment service at over 2,000 merchants by the end of the year.

Enabling merchants to affordably accept mobile payments can allow JCB to increase its volume:

– QR codes are a cost-effective way to enable merchants that previously only accepted cash to accept mobile payments. In India, QR codes have been used as way to promote digital payment adoption by enabling merchants to avoid paying high fees associated with installing payment terminal infrastructure and card acceptance. And they’ve been deployed on a large scale in China through both major Chinese mobile wallets Alipay and WeChat Pay, which operate on QR codes. If JCB deploys its solution on a wide enough scale, it can have a similar impact by allowing cash-only merchants throughout Asia that previously couldn’t afford POS terminals to start accepting digital payments.

– Asia represents a strong opportunity for mobile payments innovation as many governments are pushing to go cashless. The governments in Taiwan and Vietnam are both working on cashless initiatives to promote a push toward mobile payments. JCB has 29 bank partners in Taiwan, and if it deploys this solution to them it can significantly increase volume.

In Taiwan, only 13% of the population uses mobile payments despite 93% smartphone penetration. But the government is planning initiatives to promote mobile payment adoption, with the goal to have 90% of mobile phone users using mobile payments by 2025. And 80% of consumers in Taiwan are willing to try contactless payments, which could indicate interest in these QR code payments as well. Further, in Vietnam, the country hopes to establish a 90% cashless economy by 2020 by pushing initiatives to increase electronic payments. If mobile payments do catch on in these markets, JCB will be well positioned to allow consumers to immediately adopt these payments in each region, and these areas can serve as a blueprint for JCB to expand its service in other markets.

Fuente: businessinsider.com

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