Tag: Cards & Payments

JCB expands its merchant network with Paymentwall in digital media and home entertainment sector

TOKYO & EUROPE, Nov 4, 2020 – (ACN Newswire) – JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., Japan's only international payment brand, and Paymentwall announce the activation of JCB cards in the digital media and home entertainment sector.

This partnership will simplify the online transactional journey for digital media and home entertainment communities as they make in-app and online purchases from small and medium-sized companies across the world.

Globally, throughout 2020 to date, the video game industry sector has seen a 7.4% increase in sales year-on-year and a user increase of 12.7% year-on-year, and it is forecasted that the market will reach an expected annual sales growth of a further 0.9% as we move towards 2025[1].

This collaboration is set to expand the virtual media entertainment market even further. Additionally, this partnership will offer cardmembers enhanced fraud protection, speedier transactions, local payment processing and 24/7 in-app help and support functions.

Mr. Honor Gunday, CEO of Paymentwall said, "establishing a relationship with JCB has been a key milestone for us as we expand into new regions where we can offer our customers and end-users more advanced payment options. JCB has almost 60 years of insight and understanding when it comes to its cardmembers across countries in Southeast Asia, Japan, China, and Korea. We are happy to be a part of this network."

Mr. Tsuyoshi Notani, Managing Director, JCB International (Europe) Ltd. expresses, "our flexible approach with our partners has enabled us to work alongside Paymentwall to help their mobile entertainment developers and merchants to reach their aspirations too. This collaboration is one that we are particularly excited about as it will support the growing trend and consumption growth of virtual media and home entertainment, which has gained popularity with our cardmembers, especially in recent months. We are both looking forward to unlocking the gateway to Asia for Paymentwall's online retailers, as well as securing card acceptance for our global cardmembers."

[1] 'Online Games.' 2020 [Online], https://bit.ly/3mIqbdd, [Accessed 11/08/2020]

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 34 million merchants in the world. JCB cards are now issued in 24 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 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 Paymentwall

Paymentwall is a global payments platform. The platform allows millions of people around the world to make payments using not only credit cards but also 150 local payment options, including bank transfers, e-wallets, and prepaid cards. Paymentwall helps over 200,000 merchants, including LG Electronics, Shopify, Bottega Veneta, Kigo, Wargaming, Tencent, and Samsung to expand globally and monetize new markets. Through the offices in San Francisco, London, Berlin, Lisbon, Cairo, Sofia, Kyiv, Moscow, Novosibirsk, Manila, Hanoi, Beijing, Shenzhen, Seoul, Gurgaon, and Bangalore, Paymentwall provides its merchants and their end-users support in over 30 languages. Paymentwall's call centers, risk and fraud prevention divisions, and merchant support teams work 24/7, 365 days a year to assist their customers. For more information, please visit: www.paymentwall.com

Contacts
JCB International/Europe
India Stone
Phone: +44 020 7087 4754
Email: istone@jcbeurope.eu

JCB (Head Office in Japan)
Kumiko Kida, Ayaka Nakajima
Phone: +81-3-5778-8353
Email: jcb-pr@jcb.co.jp

Paymentwall Europe
Yev Petrov
Phone: +49 152 2204-4136
Email: zhenya@paymentwall.com

Paymentwall, Inc. (HQ)
Terry Chan
Phone: +1 (415) 707-9920
Email: terry@paymentwall.com

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Endowus launches Fund Smart for Singapore investors: Build customisable portfolios with direct access to curated institutional best-in-class funds from the world’s leading asset managers

SINGAPORE, Oct 26, 2020 – (ACN Newswire) – Endowus.com, Singapore's leading MAS-licensed digital wealth management platform and the first and only digital advisor for the Central Provident Fund (CPF), has announced the launch of their new investment solution – Fund Smart. Singapore investors can now build investment portfolios from a selection of institutional share-class and trailer-fee free funds curated by the Endowus Investment Office, led by Samuel Rhee, Chairman & Chief Investment Officer at Endowus. This new solution gives investors the ability to customise their fund allocations, analyse the historical and projected performance, as well as look-through the underlying exposure and total costs across the selected funds. It also provides real time advice to investors on the suitability of the portfolio they have created against their financial needs. Similar to existing Endowus investment offerings, Fund Smart has no sales fees, no transaction fees, no lock-ups and 100% trailer fee rebates. Endowus has also built in automated rebalancing and regular savings plans capabilities to improve the client investment experience.

Endowus launched a market survey to better understand Singaporeans' investment preferences and needs prior to designing Fund Smart. The majority of respondents indicated a strong preference for the flexibility to customise their own investment portfolios, with exposure to specific geographies or sectors (74.5%) and lower costs (84%) as key considerations. Endowus Investment Office sought to design a differentiated investment solution to take into consideration Singaporeans' investment needs and also provide quality advice in the form of curated fund selection and model portfolios.

Samuel Rhee, Chairman and Chief Investment Officer at Endowus, said: "Fund Smart's value proposition is clear. People struggle with too many options – a growing array of platforms, and far too many funds to choose from with confusing fee structures. Transparency is important to us as it should be to our clients. We want our clients to experience the same quality of advice we have provided with our core portfolio products, but now with greater flexibility as we introduce a new way of investing through Fund Smart. Stick to our advised and new model portfolios, or make the tweaks you need. It's that simple. And at the same low and aligned fees you can't get elsewhere."

The curated model portfolios include an ultra-defensive fixed income portfolio to prioritise capital preservation to weather volatility in markets and also flexible cash management solutions, as well as thematic and sector-focused portfolios such as ESG (Environment, Social, Governance) or SRI (Socially Responsible Investing) funds, Shariah-compliant funds, and thematic funds.

Funds available on Fund Smart include those managed by Dimensional Fund Advisors, PIMCO, Vanguard, Schroders, First Sentier, Franklin Templeton, Eastspring, Fidelity, PineBridge, Legg Mason, Fullerton, Lion Global, Nikko, and UOB Asset Management.

Endowus' no sales fee and 100% trailer fee rebate policy not only lowers the total cost of investment, but also ensures alignment of interests with the investors. As a fee-only advisory firm, Endowus is not incentivised by product providers paying them hidden sales kickbacks. The average net cost of managing portfolios with Endowus is 65% cheaper than trying to replicate the portfolios on popular platforms and private banks in the market.

Kimberley Stafford, Managing Director and Head of PIMCO Asia Pacific said, "PIMCO has had the pleasure to collaborate with Endowus since their launch. With its unique solution offerings and the launch of the new innovative Fund Smart solution, we believe Endowus, as an industry leading digital wealth management platform, will help broaden PIMCO's outreach to retail investors in Singapore and provide them with the access to our fuller range of global fixed income investment solutions."

Gregory Van, Founding Partner at Endowus, said "Fund Smart provides transparency and flexibility for clients to express their investment views through access to best-in-class funds, all on a secure wealth platform that is home to all their money – Cash, CPF and SRS. We will continue to help clients cut through the clutter, keep fees low and aligned, and improve everyone's investment experience."

Joel Kim, CEO of Dimensional Asia ex-Japan, said "Dimensional is pleased to have worked with Endowus since they started serving Singaporean investors. They are one of the pioneers of fee-based independent advice in Singapore with a strong focus on low cost, transparent and systematic approach to investing. Endowus' launch of the Fund Smart solution is a significant evolution in their advice offering for Singaporeans wishing to invest more of their savings with Dimensional through Endowus."

Safety and Security together with Ease of Use Are Still Important

According to the investor survey conducted, the safety and security of the platform (83.9%) are crucial deciding factors in determining where Singaporeans invest. Through Endowus' partnership with Singapore's largest broker UOB Kay Hian, all client assets and investments are safely held in trust under the client's own name. As with all of the Fintech company's product offerings, Endowus Fund Smart gives users a fully digital, fuss-free onboarding experience using MyInfo within minutes from the comfort of their own homes.

About Endowus

Endowus.com is a MAS-licensed financial technology company and the first-and-only digital investment advisor for the Central Provident Fund (CPF), Supplementary Retirement Scheme (SRS), and cash.

Endowus offers access to superior investment products, personalised advice, and lower costs on a seamless digital investment platform for all investors. Partnered with UOB Kay Hian, Singapore's largest broker, client assets and positions are safely held in the client's own name. For more info, please visit www.endowus.com/

For media queries, please contact:
PRecious Communications for Endowus
E: endowus@preciouscomms.com
T: +65 6303 0567 / +65 9644 2930

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Riyad Bank signs acquiring agreement with JCB for local acceptance in the Kingdom of Saudi Arabia

Riyadh & Tokyo, Oct 26, 2020 – (ACN Newswire) – Riyad Bank, a listed company on the Saudi Arabia Stock Exchange in the Kingdom of Saudi Arabia, and JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., announced that Riyad Bank had signed a partnership agreement with JCBI to enable the acceptance of JCB Cards at all Point of Sale systems, online and ATMs throughout the Kingdom of Saudi Arabia.

As part of a push to make the Kingdom a cashless society and support for financial inclusion that is both in line with the aims of the Saudi Vision 2030, this partnership will enable JCB Cardholders to use JCB Cards through Riyad Banks's network for Point of Sale and ATMs across Saudi Arabia, thereby providing greater convenience for JCB's globally increasing cardholders in Islamic markets such as Bangladesh, Bahrain, India, Indonesia, and Pakistan.

"I am delighted to announce this partnership in consideration of the Vision 2030 and the ever-closer relationship between Saudi Arabia and Japan." Mr. Yoshiki Kaneko, President & COO of JCB International Co, Ltd. said, "Along with the introduction of the tourist visa program last year, which offers visas to citizens of 49 countries, a larger number of JCB Cardholders is expected to visit Saudi Arabia on top of our Muslim cardholders in Asia. We position Saudi Arabia as the most significant market for expanding our business in the Middle East. I am certain this partnership will benefit both our cardholders and Riyad Bank's merchants for their convenience and in terms of the opportunity with the new payment option."

Mr. Mohammed Abo Al-Naja, Riyad Bank Executive Vice President Corporate Banking: "It is our pleasure that we are one of the first Banks in the Kingdom to avail the acceptance of JCB Cards at its merchant locations. The partnership is in line with the Vision 2030 in promoting a cashless economy. This move would greatly benefit pilgrims visiting from the Far East where our partner JCB has a strong presence, and the ever-increasing number of tourists visiting the Kingdom. JCB Cardholders will have the option to use their cards in a wide range of outlets capitalizing on our leadership position in the market. Furthermore, this complements our strategy and vision to bring to the market the latest and most innovative offerings while addressing the needs of our merchants and the market."

About Riyad Bank

Riyad Bank is one of the largest financial institutions in the Kingdom of Saudi Arabia and the Middle East. Riyad Bank was established in 1957, with a paid-up capital of SAR 30 billion. It provides a comprehensive range of products and services to meet the needs of both retail and corporate customers, including SMEs. Riyad Bank plays a leading role in various areas of finance and investment in Saudi Arabia, that is why it distinguished as a leading financier and arranger of syndicated loans in the oil, petrochemicals, and most of the Kingdom's notable infrastructure projects. Riyad Bank offers innovative and remarkable financing solutions through a network of 308 branches and more than 45,000 POS, in addition to more than 2,542 ATMs well distributed in strategic & carefully selected locations around the Kingdom. It had a branch in London and offices in Houston (USA), and Singapore helps support the international banking needs of such customers. Also, it has electronic banking services (web-based and mobile applications) that use the latest electronic technologies to address the banking needs of our customers with utmost ease, convenience, and security.

About JCB

JCB is a 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 34 million merchants as well as cash advance locations around the world. JCB Cards are now issued in 24 countries and territories, with more than 140 million cardmembers. As a comprehensive payment solution provider, JCB commits providing responsive and high-quality service and products to all customers worldwide. www.global.jcb/en/

For more information for media:
Riyad Bank
Media contact
Tel: +966-11-401-3030 Ext. 2984
Email: mediarelations@riyadbank.com

JCB
Kumiko Kida, Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@jcb.co.jp

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Fujitsu, JCB, and Mizuho Bank to Test Digital Identity Interoperability

TOKYO, Oct 15, 2020 – (ACN Newswire) – Fujitsu Limited, JCB Co., Ltd. and Mizuho Bank, Limited. today announced a joint demonstration trial aimed at further advancing a digital society in which digitally managed information attributable to individuals (i.e. ID information) can be safely and securely transacted online, distributed and linked between different industries.
Image of the demonstration system



In the demonstration, JCB and Mizuho Bank will verify mechanisms to securely exchange and link participant ID information, such as names, addresses, and employers, on a cloud platform built by Fujitsu. Approximately 100 Fujitsu Group employees in Japan will participate in the program, which is scheduled to last for approximately four months. Fujitsu has built a self-sovereign and decentralized digital identity exchange technology(1), which utilizes a blockchain solution from Fujitsu Laboratories.

Through this demonstration trial, Fujitsu, JCB, and Mizuho Bank will confirm the accuracy of ID information held by multiple business operators and verify the mechanism by which customers can safely and securely control the distribution of ID information. Going forward, JCB, Mizuho Bank, and Fujitsu will consider innovative service models best suited to ID information management, regardless of the industry or sector.

[Background]

In recent years, much thought has been given to how individual data – which is acquired and managed by one service provider – can be utilized and distributed among other service providers to enable more convenient services. However, the importance of identity verification has been demonstrated many times over, as misappropriation of personal data, privacy risks, and damage caused by the unauthorized use of such data has become widespread. There is also a growing demand for business operators to be able to definitively prove the reliability of their business partners.

With the continued proliferation of digitization and circulation of personal ID information, it is essential to manage data with greater security and reliability, while also increasing the convenience of its shared usage.

JCB and Fujitsu have been conducting a joint research project on digital identity since 2019. From the viewpoint of improving the management and reliability of information held by multiple parties, we are conducting a demonstration trial on an interoperability model of identity information together with Mizuho Bank.

[Outline of the demonstration trial]

1. Details of implementation

(1) Verification of self-sovereign and decentralized digital identity exchange technology via the demonstration system
– JCB and Mizuho Bank will automatically issue the participants' ID information as electronic certificates.
– Participants will freely combine or encrypt the electronic certificates they receive from JCB and Mizuho Bank, in order to link their own identities online in a secure and reliable method to other businesses (JCB or Mizuho Bank).

The usefulness of ID information distribution technology will be verified by experiencing the mechanism described above.

(2) Verification of platform requirements and operational practices for self-sovereign and decentralized digital identity
The demonstration system will be used to verify the requirements for building the system and show how to operate it to implement the identity platform.

2. When: Four months from October 2020 to January 2021 (Scheduled)

3. Role of the three companies

(1) JCB and Mizuho Bank
Through the demonstration system, information on participants held by JCB and Mizuho Bank will be disclosed to the participants from each company. At the same time, the system will receive personal information disclosed by participants through the system. The companies will also examine the service requirements, operational practices, and new service models for self-sovereign and decentralized digital identities.

(2) Fujitsu Group
Developing and providing the demonstration system and applications used by participants and operating the demonstration and the system.

Fujitsu will also design and evaluate the functions of the system for a self-sovereign and decentralized digital identity exchange platform.

[Future Developments]

JCB, Mizuho Bank, and Fujitsu are considering a new service model that will make utilization of customer ID information more convenient for both business operators and customers. This new service model will enable each company to mutually cooperate, authenticate and update customer ID information held by each company under customer sovereignty. The aim is to build a safe, secure and customer-centric digital ecosystem in order to contribute to the realization of a society that uses data with greater convenience.

Note
(1) Identity exchange: A proprietary, decentralized identity technology developed by Fujitsu Laboratories that enables the safe and voluntary distribution of identity information provided by businesses and other third parties. Used for the distribution of identity information to a service provider and a user related to online transactions and capable of judging the authenticity of personal information of the transaction partner. For details, please refer to the Fujitsu Laboratories Press Release, "Fujitsu Develops Digital Identity Technology to Evaluate Trustworthiness in Online Transactions" dated July 4, 2019: https://bit.ly/2FdhSpJ

Press Contacts
Kumiko Kida, Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@jcb.co.jp

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JCB and NTT Com to Demonstrate Multifunctional Mobile Wallet App

TOKYO, Oct 8, 2020 – (ACN Newswire) – JCB Co., Ltd., Japan's only international payment brand, and NTT Communications Corporation (NTT Com), the ICT solutions and international communications business within the NTT Group, announced today that they will conduct a demonstration test for JCB Mobile Wallet (tentative name), a one-of-a-kind feature[1] that guarantees the original foreign currency exchange rates for a certain period. JCB and NTT Com personnel will participate in the test, which will be conducted until the end of November, prior to the scheduled launch of commercial services in Japan and other Asian markets next year.
JCB Mobile Wallet (tentative name)



The multifunctional app, which enables users to instantly create JCB brand virtual prepaid cards, provides a range of useful services, including cashless payments, mobile remittances, account settings and map-based searches for JCB merchants, for the convenience of international students, businesspeople and international residents in Japan. Features include:

– Multi-Currency
Users can exchange home currency to 22 other currencies, with the choice of either a real-time rate or a guaranteed period rate. Guaranteed period rates are a one-of-a-kind feature. Any currency not used within fourteen days is exchanged back at the original rate.

– Multi-Account
Multiple sub-accounts are offered for families and businesses. For example, a parent could charge up the sub-account of a child studying abroad with money whenever needed, 24/7. For corporate accounts, companies can easily manage the balance of sub-accounts when employees travel overseas on business.

– Multi-Service
Many useful services are bundled with the app, such as reserving restaurants and taxis.

The demonstration will be used to confirm the functionality and practicality of the app's user interface and user experience for various functions and services developed by JCB and NTT Com. It will also test NTT Com's system for the Home Currency Anywhere®[2], which manages rate-guaranteed foreign currency information[3] comprehensively and quickly by leveraging NTT Com's API Gateway as a Service[4] to centrally manage the APIs of Home Currency Anywhere® and other services.

The new app will be compatible with mobile contactless payment systems and other payment environments in many countries and regions using Near Field Communication[5], QR codes and linkage to credit cards.

In the future, expanded functionality will be realized through the planned incorporation of NTT Com's Wallet Exchange®[6] service to enable online transfer and management of electronic money in various currencies. Also, the measures will be incorporated to ensure that JCB Mobile Wallet offers robust security for customer transactions.

[1] According to research by JCB and NTT Com.
[2] Home Currency Anywhere® is a service provided by NTT Com that distributes information about rate-guaranteed foreign exchanges and transactions through a secure environment. Foreign exchange rates guaranteed for a certain period of time enable end users, such as travelers, businesspeople and overseas residents, to exchange currencies without having to worry about fluctuating rates. Please see https://www.ntt.com/en/about-us/press-releases/news/article/2019/1112.html.
[3] Foreign currency exchange based on foreign exchange rates will be carried out by NTT Com's partner company M-DAQ Pte. LTD. Please see https://www.m-daq.com/.
[4] API Gateway as a Service centrally manages API connections with other services for quick and easy deployment across API connections and data formats of each service. Please see https://www.ntt.com/en/about-us/press-releases/news/article/2017/0614.html.
[5] Near Field Communications (NFC) is an international standard wireless communication technology, defined by ISO as a non-contact IC card interface standard, for wireless connection with NFC-equipped mobile phones or NFC-compatible credit cards over short distances of a few centimeters.
[6] Wallet Exchange® is an NTT Com online service that uses Home Currency Anywhere® to charge electronic money accounts with various currencies. A user can convert their electronic money from home currency into foreign-currency in overseas travel destinations, and later can reconvert any unused e-money back into the home currency at the original rate within 14 days.

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 34 million merchants in the world. JCB cards are now issued in 24 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 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 NTT Communications

NTT Communications solves the world's technology challenges by helping enterprises overcome complexity and risk in their ICT environments with managed IT infrastructure solutions. These solutions are backed by our worldwide infrastructure, including industry leading, global tier-1 public and private networks reaching over 190 countries/regions, and more than 500,000m2 of the world's most advanced data center facilities. Our global professional services teams provide consultation and architecture for the resiliency and security required for your business success, and our scale and global capabilities in technology world are unsurpassed. Combined with NTT Ltd., NTT Data, and NTT DOCOMO, we are NTT Group.

– Website: www.ntt.com
– Twitter: https://twitter.com/nttcom
– Facebook: https://www.facebook.com/nttcomtv
– LinkedIn: https://www.linkedin.com/company/ntt-communications

Media inquiries
Kumiko Kida, Ayaka Nakajima
Corporate Communications
JCB Co., Ltd.
+81-3-5778-8353
jcb-pr@jcb.co.jp

Masaki Nomoto, Aoi Funagoshi
Public Relations, Corporate Planning
NTT Communications
+81-3-6700-4010
pr-cp@ntt.com

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com