Stripe, the globally recognized financial infrastructure platform for businesses, has recently magnified its commitment to JCB. Recognized as one of Japan’s primary card networks and a dominant player in the global payment arena, JCB now enjoys enhanced support across 39 countries through Stripe.
Facilitating Seamless Transactions for 154 Million Cardholders
With this leap in collaboration, businesses scattered across these 39 territories can effortlessly cater to the payment preferences of over 154 million JCB cardholders.
Yoshiki Kaneko, the President and CEO of JCB International Co. Ltd., remarked, “Working with Stripe to expand our international reach and enable more ways for our cardmembers to pay is an obvious next step in deepening our partnership. Stripe’s global presence and innovative technology is ideal for merchants who value secure and fast transactions, as well as for our cardmembers, who want to pay with their favorite card wherever they are in the world.”
Japan’s E-commerce Potential Unveiled
Japan boasts its position as the world’s fourth-largest e-commerce hub. This expansion propels businesses worldwide to effortlessly penetrate the Japanese market, where JCB stands as the preferred card for a myriad of consumers. Icons in rapid business growth, such as Slack, are already onboard, accepting JCB cards to harness the potential of the Japanese market. Furthermore, the extended coverage simplifies the online purchasing journey for JCB cardmembers residing or voyaging outside Japan. This timely announcement coincides with the resurgence of Japanese tourists on the international front, reflecting a staggering 221% increase in overseas visits this past July compared to the prior year.
Tailoring Payment Solutions to Global Demands
Stripe’s recent study underlines the pivotal role of apt payment mechanisms in successful global ventures. Their “State of Asia Pacific checkouts in 2022” report disclosed that a significant 84% of Asia Pacific consumers would potentially abandon their carts if deprived of their preferred payment gateway. Earlier in the month, Stripe declared an extensive expansion of their optimized checkout suite, now supporting an impressive array of over 100 global payment methods.
Also read: SAS Institute Collaborates With Key Malaysian Entities to Crown Winners of the Prestigious Malaysia Data Innovation Talent x DOSM Datathon 2023!
A Partnership Set to Revolutionize Online Transactions
Deepening the alliance between Stripe and JCB promises a slew of industry-first features. Stripe recently spearheaded JCB’s inclusion of groundbreaking features in the Japanese market. With a quicker onboarding process and expedited payout cycles, businesses can now integrate and start processing online JCB payments in merely a few days, a drastic reduction from the earlier weeks-long timeframe. Moreover, qualified businesses under Stripe can access JCB funds in their coffers within days, challenging the conventional industry standard of a month.
Jeanne DeWitt Grosser, the Global Head of Partnerships at Stripe, commented, “With today’s updates, JCB and Stripe are making it easier than ever for global businesses to sell to customers in Japan and across Asia. We’re excited that our longstanding partnership with JCB continues to deliver new, tangible benefits to internet businesses and JCB cardmembers alike.”
Legal Disclaimer: The Editor provides this news content "as is," without any warranty of any kind. We disclaim all responsibility and liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. For any complaints or copyright concerns regarding this article, please contact the author mentioned above.
