JCB shares view on how to accelerate evolution of payments

JCB has seen the growth in contactless retail partners and cardmembers

JCB

JCB shares view on how to accelerate evolution of payments. Source: shutterstock.com

JCB has revealed that since July 2020, the company saw a 30% increase in contactless usage. The number of JCB contactless partners has also increased in the past three years. JCB projects a further 25% increase by the end of 2020. Over the past four years, JCB has had 37% of annual sales.

This can be attributed to the shift into the online space and the growth in e-commerce. The quick pace offers a better opportunity to accelerate the evolution of payments.

The move will entail shifting from the old normal and adopting a growth mindset. As the world recovers from the crisis, the importance of the payment industry cannot be ignored. As such, businesses need to diversify to meet the needs of the consumers and partners.

People have different preferences. This offers an opportunity for businesses to create engaging shopping experiences and innovate. It also means payment networks need to be one step ahead by providing consumer solutions and making use of market intelligence.

We’ve reported that JCB International and Paymentwall have announced the activation of JCB cards in the digital media and home entertainment sector.

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