JCB partners with Nuvei to enable JCB payment acceptance across global markets

Nov 01, 2022 12:00 JST

Source: JCB

This collaboration will bring greater value to Nuvei's 50,000 merchant network and offer JCB cardmembers a seamless online payments experience

LONDON, Nov 01, 2022 - (JCN Newswire) - JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., today announced their partnership with Nuvei. Nuvei now offers JCB acceptance to its global merchant ecosystem, enabling JCB's more than 140 million-strong cardmember community to pay at Nuvei's network of 50,000 merchants across global markets. These merchant sectors include social media, luxury retail, travel and entertainment. This will allow JCB to provide a compelling offering for the global spenders amongst its cardmember community.

Nuvei's unique platform provides merchants with choice and flexibility to capture every payment opportunity, increase acceptance rates and reduce operating costs. The partnership with JCB will open greater opportunities for Nuvei's merchant community to provide comprehensive payment acceptance and greater sales opportunities on a global scale.

Nuvei will also be offering J/Secure(TM) 2.0, JCB's cardmember authentication programme conforming to the EMV(R) 3-D Secure Protocol and Core Functions Specification to prevent fraud. J/Secure(TM) 2.0 is expanding globally and supported by major global suppliers of 3DS Server and ACS. It provides more opportunities to JCB acquirers and issuers for secure e-commerce transactions and enhances the customer experience to reduce cart abandonment by introducing Frictionless Flow (the customer will not be prompted for additional information such as a password) through risk-based authentication that supports richer data exchanges and additional data sharing during online transactions.

This partnership is the latest stage in JCB's growing global acceptance, bringing secure payments to the fast-growing sector of online sales ecommerce. With the global ecommerce market forecast to total $6.169 trillion by 2023 and set to take more than 22 % of total retail sales[1], JCB's partnership with Nuvei provides an exciting platform for further growth.

Ray Shinzawa, Managing Director for JCB International (Europe) Ltd., said: "This is an exciting moment for JCB in expanding global acceptance for our cardmembers. We are delighted to be partnering with such an innovative brand in the payments space and look forward to bringing the mutual benefits of seamless and secure online payments to both Nuvei's merchant ecosystem and our loyal cardmembers."

Yuval Ziv, President at Nuvei, commented: "We're excited to extend our partnership with JCB and continue to support them along their global acceptance journey. Our business is focused on accelerating merchant's businesses through innovative payment solutions which promise a frictionless, secure payment experience for their customers. The evolution of our partnership with JCB is testament to this and we're optimistic about the future of this partnership."

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 issues cards across various countries and regions internationally 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/

About Nuvei

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow's payment platform. Designed to accelerate customers' business, Nuvei's modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration. For more information, visit www.nuvei.com.

About EMV(R)

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.

[1] Global Ecommerce: Stats and Trends to Watch to Succeed Internationally (2022) (shopify.com)

COMPANY CONTACTS:

JCB International (Europe) Ltd. Contact:
Diana Lee: dlee@jcbeurope.eu

JCB (Head Office in Japan)
Ayaka Nakajima: jcb-pr@jcb.co.jp

Nuvei Investor Relations:
ir@nuvei.com

Nuvei Public Relations:
Alexandra Bucur: alexandra.bucur@nuvei.com

Source: JCB
Sectors: Cards & Payments, FinTech