• Home
  • Login
  • Register
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
SUBSCRIBE
No Result
View All Result
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
Currency Insider
No Result
View All Result

JCB, IDEMIA and Soft Space Launch JCBDC Pilot to Test CBDC In-store Payments

by CBDC Insider
October 24, 2022
in Asia, Business
Reading Time: 2min read
0
JCB, IDEMIA and Soft Space Launch JCBDC Pilot to Test CBDC In-store Payments
Share on FacebookShare on Twitter

Japan’s only international payment brand JCB Co., Ltd. (“JCB”) has launched “JCBDC” (JCB Digital Currency) pilot project with identity technologies no. 1 IDEMIA and the world’s leading fintech company Soft Space Sdn. Bhd. (“Soft Space”). JCBDC pilot will develop a CBDC (Central Bank Digital Currency) payment solution and conduct a pilot test with Tokyo merchants.

Over the past few years, central banks in many countries and regions have been testing CBDCs that should soon be widely accepted by consumers and merchants. However, merchants might be reluctant to accept them, and mass-market rollout may be held up by people without smartphones, like children and the elderly, who could find the user interfaces and payment systems hugely challenging.

As a result, JCB will have CBDC acceptance tested using existing JCB Contactless – JCB’s EMV(R) based contactless payment, merchants, POS terminals and plastic card-based user interfaces, with guidance from IDEMIA and Soft Space.

RELATED STORIES

Would CBDC Become a Golden Opportunity for Banks and Processors?

Would CBDC Become a Golden Opportunity for Banks and Processors?

March 20, 2023
Crypto News Recap: RBI and CBUAE to Develop CBDC

Crypto News Recap: RBI and CBUAE to Develop CBDC

March 20, 2023

JCB, IDEMIA and Soft Space will conclude payment system development by late 2022 and conduct the pilot test with Tokyo merchants until March 2023.

“It gives me great honour to announce our collaboration with IDEMIA and Soft Space on this project,” said Koremitsu Sannomiya, Board Member, Senior Executive Officer of JCB. “This project proves that we can use existing payment acceptance hardware for new CBDC payment systems, which is a huge benefit for both consumers and merchants.”

“We at IDEMIA firmly believe that CBDCs are redefining the very fundamentals of the payment ecosystem. We’re proud that our ability to innovate has enabled CBDC payments with existing card and POS terminal hardware. IDEMIA’s, JCB’s and Soft Space’s joint payment system expertise will usher in worldwide CBDC growth,” said Romain Zanolo, IDEMIA Managing Director APAC Financial Institutions.

“We’re thrilled to be first in the world to trial CBDC acceptance on SoftPOS alongside our partners JCB and IDEMIA. Although CBDCs are still in their infancy, this pilot takes us forward from theory to reality, by harnessing our in-store payment experience and existing payment platform expertise,” said Soft Space CEO Joel Tay.

Read more at newsmaker.com.au

Previous Post

Hong Kong Unveils its Retail CBDC with a Unique Design

Next Post

Japan Credit Bureau to Conduct Internal CBDC Tests for Settlements

Next Post
Japan Credit Bureau to Conduct Internal CBDC Tests for Settlements

Japan Credit Bureau to Conduct Internal CBDC Tests for Settlements

© 2022 CBDC Insider

No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
  • Login
  • Register