JCB, IDEMIA and Soft Space launch JCBDC pilot to test CBDC in-store payments
TOKYO & PARIS & KUALA LUMPUR, Oct 24, 2022 - (JCN Newswire via SEAPRWire.com) - Japan'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.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 unti...
