UK Merchants Embrace JCB Contactless in Collaboration with Worldpay
In a strategic alliance that promises to reshape the landscape of payment systems for UK merchants, JCB International Co and Worldpay from FIS have joined forces to introduce ‘JCB Contactless.’ This collaboration heralds the largest JCB contactless deployment in the UK to date, signifying a remarkable shift towards a cashless future.
Nearly 20% of Worldpay Point-of-Sale (POS) systems in the UK are equipped to accept JCB contactless payments. This move aligns with JCB’s mid-term plan, aiming to extend this capability across the remaining 80% of Worldpay terminals throughout the UK, with a full rollout anticipated by the close of 2024.
The changing payment landscape underscores the context for this ambitious partnership. The recently published Worldpay Global Payments Report reveals a steady decline in cash usage at POS as consumers increasingly opt for contactless payments via digital wallets and contactless cards.
In the UK, a staggering 86% of POS spending now involves cards and digital wallets combined, compelling merchants to prepare for a cashless reality. Comprehensive contactless payment solutions have become an indispensable component of modern commerce.
The introduction of JCB Contactless is a strategic response to meet the surging demand for comprehensive contactless acceptance among Worldpay’s merchants. Notably, UK merchants who embrace JCB Contactless will unlock access to JCB’s vast cardmember community, comprising a staggering 154 million cardholders. This synergy, coupled with the higher average transaction values associated with contactless payments, is poised to significantly boost merchants’ sales opportunities.
Ray Shinzawa, the Managing Director for JCB International (Europe) Ltd, expressed optimism, stating, “We look forward to continuing to work together in enabling JCB Contactless across the entire Worldpay POS ecosystem.”
JCB Contactless is an innovative payment system that allows customers to complete transactions effortlessly by simply holding their JCB Card or JCB-card-enabled smartphone over the store terminal. Built on the global chip standard ‘EMV(R),’ it provides an exceptionally high level of security, addressing the paramount concerns of today’s digitally savvy consumers.
Nick Fisher, UK General Manager at JCB International (Europe) Ltd, elaborated on the significance of offering a diverse range of contactless options, emphasising that this enhancement will elevate the customer experience. He noted, “The payment preferences of consumers across the region are changing rapidly, and JCB is proud to be working with leaders like Worldpay to enable the future of payments.”
Chris Wood, General Manager for SMB International at Worldpay Merchant Solutions, highlighted the importance of offering consumers the flexibility to pay with their preferred method, wherever and whenever they choose. This collaboration promises to simplify merchants’ payment acceptance, catalysing growth in this dynamic payment landscape.
This extension of the partnership between JCB and Worldpay signifies a significant stride in shaping the future of payment systems for UK merchants. With their unwavering commitment to enhancing customer experiences and facilitating secure, efficient, and convenient payment processes, this collaboration epitomises the evolving payment ecosystem’s resilience and adaptability. As consumers increasingly favour contactless payments, the JCB-Worldpay alliance is poised to usher in a new payment convenience and security era.
