San Francisco-based payments processor Stripe is deepening its partnership with Japan-based credit card network JCB International. Stripe and JCB have already worked together and had announced their first partnership in 2018.
Businesses will be able to accept online payments with JCB cards using Stripe’s API platform, according to a press release. This applies to users who may be using marketplace using Connect, a SaaS platform using Billing, or an online store using Checkout. This is will take a few days which previously used to take weeks for businesses to offer JCB to other cardholders in Japan and other Asian markets.
Eligible Stripe businesses will be able to have access to JCB funds in their accounts in a matter of days which used to take months earlier. According to the press release, businesses which use Stripe in US, Canada, Australia and New Zealand will be able to instantly accept payments from JCB cardholders which will make trade seamless between Japan, Asian markets and the rest of the globe.
“We’re excited about the opportunity to partner with Stripe, one of the fastest moving technology companies in financial services,” said Mr Shioda, Executive Vice President, Head of Global Acceptance & Marketing Headquarters at JCB. “Through this partnership, we expect to dramatically enhance access to JCB by International businesses and consumers.”
Stripe will also open a new engineering office in Tokyo which will focus on building features and capabilities to meet Japanese business. This will include support to domestic payment methods.