JCB creates a new B2B payment solution through new partnership

More than 150,000 businesses use Paystand every day for their B2B payments

JCB

JCB creates a new B2B payment solution through new partnership. Source: shutterstock.com

Scotts Valley, payment and card issuer brand agreed to build a new B2B payment solution for SMEs in Japan with Paystand, a fintech provider of commercial payments infrastructure.

The platform connects suppliers and payers through a frictionless payment network. It accelerates time to cash, automates manual processing, and reduces fraud risk.

Along with that, Paystand provides payers with simplified B2B transfers with real-time fund verification. It also supports more traditional payment methods, including credit and debit cards and ACH.

JCB and Paystand aim to deliver a fully automated and digitalized B2B payment solution in the Japan market. Source: global.jcb

According to the new legislation, Japanese enterprises as taxpayers are required to include more detailed information. They must include registration numbers and applicable tax rates in their invoices and books to become eligible for crediting of input consumer tax.

Both sides consider the new payment solution will help Japanese enterprises to comply with strict requirements, driving more digitalization and cashless payment in the B2B payment market.

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