Japanese credit card issuer goes blockchain for payment solutions

Japanese credit card issuer JCB is turning to blockchain technology to enhance it payment platform. The cross-border payment platform will provide options for its merchant network to accommodate both the fiat and crypto users. JCB partnership with TECHFUND is set to develop a payment system that will ride on the popular technology.

In a press statement released on May 15, JCB will make use of the partner expertise to develop a new payment ecosystem. TECHFUND will provide Security Token Offering (STO) expertise to ensure the project succeeds. The card processor partnered with WorldPay late last year and the latest partnership will see the credit card service provider increase its global visibility.

TECHFUND for Japanese credit card issuer JCB

The Japanese credit card issuer JCB Japan is to ride on the TECHFUND’s function, ACCEL blockchain as a service. This collaboration will see the existing JCB user tap into the benefits of making payments using the increasingly popular blockchain.

TECHFUND Japan vision is supporting startups that in turn enrich their user lives. The partnership will see JCB benefit its user base by providing new solutions for online cross border payments. Late last year, the credit card service provider introduced a Business to Business (B2B) solution riding on the crypto supporting technology.

Japanese credit card issuer looks beyond Japan

The Japanese credit card issuer JCB is positioning itself to spread its wings beyond Japan. Already, it has its cards issued in over 20 countries. They have a strong presence in Japan, Taiwan, the Koreas, Russia and Indonesia. This is about to change as more and more users turn to crypto for payment during the current global economic meltdown.

As Cryptopolitan reported late last year, the Japanese credit issuer JCB quest to provide crypto backed payment solution has been burning. Its collaboration will see JCB benefit from security solutions from the tech firm. This is in addition to its plan to accelerate crypto adoption to traditionally controlled fiat markets.