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JCB, IDEMIA and Soft Space launch JCBDC pilot to test CBDC in-store payments
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.
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.
*EMV(R) is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.
About JCB
JCB is a major global payment brand and a leading credit 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 39 million merchants around the world. JCB Cards are issued mainly in Asian countries and territories, with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/
JCB Contact
Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: [email protected]
About IDEMIA
As a leader in identity technologies, IDEMIA is on a mission to unlock the world and make it safer. Backed by cutting-edge R&D, IDEMIA provides unique technologies, underpinned by long-standing expertise in biometrics, cryptography, data analytics, systems and smart devices. IDEMIA offers its public and private customers payment, connectivity, access control, travel, identity and public security solutions. Every day, around the world, IDEMIA secures billions of interactions in the physical and digital worlds. With nearly 15,000 employees, IDEMIA is trusted by over 600 governmental organizations and more than 2,300 enterprises spread over 180 countries, with an impactful, ethical and socially responsible approach. For more information, visit www.idemia.com and follow @IDEMIAGroup on Twitter.
About Soft Space
Founded in 2012, Soft Space is the world's leading SoftPOS player headquarters in Kuala Lumpur, Malaysia. Soft Space simplified the complexity of financial infrastructure and creates value-added features for businesses to expand their business growth. With over 50 financial institutions and partners across 23 global markets adopting its payment solutions, Soft Space is supported by MDEC's Global Acceleration and Innovative Network (GAIN) programme and received financial support through MIDA's Domestic Investment Strategic Fund in 2022. In 2018, Soft Space ranked 66th out of 1000 companies in Financial Times 'FT 1000: High Growth Companies in Asia Pacific' Special Report. Subsequently in 2020, Soft Space is also recognise as one of IDC's Fastest Growing Company. For more information, please visit: https://www.softspace.com.my
Nuraqilah Ibrahim
Marketing Associate
Tel: +603 7494 1222
Email: [email protected]
Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comJapan'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.
Qualcomm Launches $100M Fund to Help Build the Metaverse
Qualcomm, the company known for its mobile Snapdragon processors for smartphones and XR headsets, announced a new Metaverse Fund. The chipmaker says the new fund will be a launchpad for XR developers and companies working to build the metaverse. At GDC 2022 today, Qualcomm launched its Snapdragon Metaverse Fund for companies building “unique, immersive XR […]
The post Qualcomm Launches $100M Fund to Help Build the Metaverse appeared first on Road to VR.
​​Carnival: Latin American Marketplace for NFTs Is Here With Minting on Bitcoin
The future of NFTs is already hyped by its present. Moreover, if the leveraging of the security is based on the Bitcoin network. Bringing in an industry-first approach for minting exclusive art works, Carnival is the first Iberoamerican NFT marketplace to reach this level of security with the help of Rootstock. Why is Carnival Rocking? [...]
The post ​​Carnival: Latin American Marketplace for NFTs Is Here With Minting on Bitcoin appeared first on Blockonomi.
Mitsubishi Shipbuilding to Invest in Marindows
Electrification and autonomous operation in the coastal vessel industry has become increasingly widespread, particularly in the small and mid-sized vessel market. This investment will provide a network with the small and mid-sized coastal vessel market, fishing boat market, and pleasure boat market that will support Mitsubishi Shipbuilding's efforts for the commercialization of standard electric propulsion vessels, and furthering the adoption of a safe and efficient navigation support system utilizing real-time data.
Marindows Inc. was established in March 2021 by e5 Lab Inc., a firm jointly founded by four companies representing shipping firms and a trading company to promote the electric propulsion and digitalization of ships. Marindows has adopted a vision to "Utilize the revolution in information technology to solve the issues of safety, productivity, and environmental conservation facing the marine industry, and transform the marine sector into one of the leading growth industries of the 21st century." The company aims to create a better work environment for crews and all personnel in the marine industry by providing a range of applications utilizing the "Marindows" marine operating system it provides as a platform. The launch of marine broadband in 2022 is expected to make possible ship to shore communications and crew support services in real time, which up to now had been unattainable because of the unreliability of such communications.
Mitsubishi Shipbuilding has built more than 5,000 vessels, including passenger ships, ferries, oceanographic research vessels and patrol boats, and has actively adopted new technologies as a pioneer in the construction of energy carriers including coal carriers, oil tankers, and liquified gas carriers (LPG and LNG carriers). In recent years, as a marine systems integrator generating innovation in the marine-related engineering and services business, Mitsubishi Shipbuilding has been pursuing initiatives that go beyond the conventional shipbuilding business model of just building and selling products. Through this investment, Mitsubishi Shipbuilding will continue to respond to the demands of customers and society, and work toward solutions to achieve its "MARINE FUTURE STREAM" growth strategy.
About MARINE FUTURE STREAM
Mitsubishi Shipbuilding has established the MARINE FUTURE STREAM vision for 2050 in the ship and marine sector, setting the goals of "effective utilization of the marine space" and "a decarbonized marine world," and working to generate ideas for marine-related innovation and achieving them through backcasting. For the effective utilization of the marine space, in order to stablish a safety society in which people work comfortably with the sea, and everyone is able to live well and with peace of mind, Mitsubishi Shipbuilding will utilize digital technologies and service businesses that extend beyond the confines of shipbuilding to establish a sound material-cycle society. For "a decarbonized marine world," in order to focus on the decarbonization of ships, as well as the use of renewable energy and CO2 capture at sea, Mitsubishi Shipbuilding will pursue the decarbonization of society through the marine business.
Copyright 2022 JCN Newswire. All rights reserved. www.jcnnewswire.comMitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries (MHI) Group, has completed investment into Marindows Inc., a Tokyo-based firm aiming to utilize the revolution in information technology to build an integrated digital platform for the marine industry.
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