JCB and WEX Partner to Issue Virtual Cards in Japan
November 01, 2018ACN Newswire
TOKYO, Nov 1, 2018 - (ACN Newswire) - JCB International, Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., today announced a new partnership with WEX Inc. (NYSE:WEX), an industry-leading global provider of corporate payments solutions, to enable WEX virtual payments technology in Japan. The agreement makes WEX the first B to B issuer of JCB's virtual cards and enables new functionality on the JCB network. The program will launch in the second half of 2019.
"The JCB collaboration represents WEX's commitment to expanding our presence in the Asia market, and entering Japan is an exciting step for us," said Jay Dearborn, president of WEX Corporate Payments. "It is a continuation of WEX's long-term strategy and goal to be the only technology partner in virtual payments that offers multiple payment schemes to businesses."
"We're thrilled to be working with WEX in Japan," said Ray Shinzawa, President and COO at JCB International Credit Card Co., Ltd. (JCB USA). "The innovative technology of the WEX platform plus JCB's merchant acceptance reach in Japan and throughout Asia make this an ideal partnership."
About WEX Inc.
Powered by the belief that complex payment systems can be made simple, WEX Inc. (NYSE:WEX) is a leading provider of payment processing and business solutions across a wide spectrum of sectors, including fleet, travel and healthcare. WEX operates in more than 10 countries and in more than 20 currencies through more than 3,300 associates around the world. WEX fleet cards offer 11.5 million vehicles exceptional payment security and control; purchase volume in its travel and corporate solutions grew to $30.3 billion in 2017; and the WEX Health financial technology platform helps 300,000 employers and more than 25 million consumers better manage healthcare expenses. For more information, visit www.wexinc.com.
JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. Currently, JCB cards are accepted globally and issued in 24 countries and territories. For more information, please visit: https://www.global.jcb/en/ or https://www.jcbusa.com/
Note: Statistics about JCB are as of June 2018.
JCB Co., Ltd.
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