PayMaya, the Philippines’ pioneering financial services provider, and JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., have forged a new partnership for JCB Merchant Acquiring and Card Issuing business in the Philippines.
The partnership deals with the acceptance of JCB cards at online merchants that use PayMaya Checkout as the payment gateway. PayMaya and JCBI also plan to issue co-branded cards in the future.
PayMaya Business is focused on delivering solutions that power businesses of all types and sizes to accept all kinds of payments. The services PayMaya Business provides are PayMaya Checkout, a system that enables online shops to accept card payments, PayMaya Swipe, a mobile point-of-sale device that can simply be attached to any mobile device so merchants can accept card payments, and PayMaya Touch, a payment solution which allows businesses to accept swipe, dip, and contactless card payments.
The partnership will benefit all JCB cardmembers in the Philippines and overseas. JCB is a pioneer in the Japanese payment card industry with over 70M cardmembers and 95M in total worldwide. JCB cardmembers will be able to use their JCB cards at online merchants that use PayMaya Checkout as their payment gateway.
In 2017, JCB cardmembers will also be able to transact in big retail outlets in the Philippines but also in micro- and small-medium enterprises including local boutiques, food carts, and community stores which offer a unique shopping experience through PayMaya Swipe and Touch. These outlets prefer more affordable and easier payment acceptance solution like PayMaya Swipe, Checkout, and Touch.
“The Philippines is one of the most important markets for JCB’s global business expansion and we are pleased to welcome our new partner to the JCB network. I am certain that this partnership with PayMaya will bring more benefits and convenience to all JCB card members, especially in the e-commerce space. We are also looking forward to exploring further business opportunities such as ‘PayMaya-JCB Card’ issuance soon,” said Kimihisa Imada, Deputy President of JCBI.
He added: “At PayMaya, we strive to shape the future of commerce and drive local business growth through digital payment innovations. We are strengthening this commitment by collaborating with strategic partners such as JCBI, which help us enable merchants to accept payments from more consumers here and abroad. We are thrilled to see the progression of our alliance with JCBI as we continue our mission in redefining the payment landscape in the Philippines,” said Orlando Vea, President and CEO of Voyager Innovations and PayMaya Philippines.
JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 31 million merchants and over a million cash advance locations in 190 countries and territories.
JCB cards are now issued in 21 countries and territories, with more than 95 million card members. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and cardmember base. – BusinessNewsAsia.com