Expansion of Contactless Card Payments

Visa and JCB announced an agreement to share Visa Asia Pacific’s contactless specification on 22 February, which will open up acceptance of JCB’s contactless card, J/Speedy, at merchant locations outside of Japan. With this arrangement, merchants can use the same terminal to accept contactless payments for both brands.

 

The agreement will significantly increase the network of acceptance points for Visa and JCB contactless cards. Visa’s specifications, based on EMV principles, were designed to support any contactless payment product. 

 

As a result of this agreement, merchants accepting Visa and JCB contactless cards will be able to minimize their investment in terminals. Vendors will be able to lower production costs, speed up time to market and thus accelerate the pace at which the industry can implement inter-operable contactless payment programs. Ultimately, consumers and merchants will benefit from faster and more convenient payments.