Spanish bank Banco Santander and Japanese credit card giant JCB have announced a partnership.
The aim of the agreement is to expand the use of payments in e-commerce systems. JCB has 140 million credit cardholders and Banco Santander has a large customer portfolio of customers who use its services in e-commerce platforms.
Specifically, Banco Santander‘s partners, which include retailers, hospitality, travel, restaurants, and educational services, will benefit from using JCB’s J/Secure system on their platforms.
The partnership is based on the evolution of the consequences of the lockdown and coronavirus, which have increased online shopping.
The agreement had already been signed in June to enable JCB to grow in Spain.
Over the last 4 years, JCB has experienced strong growth worldwide, with over 140 million members and 34 million merchants accepting its credit cards. Now, this possibility is also being extended in Spain through collaboration with Banco Santander.
JCB’s J/Secure 1.0 for the agreement with Banco Santander
The focus will be on the use of J/Secure 1.0 by JCB, a particular credit card that guarantees an extreme level of security as it requires the input of a password to be used, thus allowing to identify who uses it.
Rubén Justel, CEO of Santander España Merchant Services, said:
“This new step on our fruitful partnership with JCB contributes to our vision to help our merchants increase their sales by accepting the most demanded means of payments, in addition to reaching more international clients from JCB issuing countries”.
Tsuyoshi Notani, Managing Director of JCB International (Europe) Ltd. added:
“Partnering with Banco Santander has enabled us to further fulfil our promise to provide our card members with as many safe payment methods for international online transactions as possible. We are further delighted to be able to support Banco Santander’s merchants, as they welcome e-commerce trade while we have seen a decline in face-to-face sales in recent months. It is our hope that this collaboration will support recovery of the payment industry, especially in Spain, after the global COVID-19 pandemic.”