Japan’s only international payment brand JCB Co., Ltd. (JCB) has launched JCBDC (JCB Digital Currency) pilot project with identity technologies no. 1 IDEMIA and the fintech company Soft Space Sdn. Bhd. (‘Soft Space’). JCBDC pilot will develop a CBDC (Central Bank Digital Currency) payment solution and conduct a pilot test with Tokyo merchants.
Over the past few years, central banks in many countries and regions have been testing CBDCs that should soon be widely accepted by consumers and merchants. However, merchants might be reluctant to accept them, and mass-market rollout may be held up by people without smartphones, like children and the elderly, who could find the user interfaces and payment systems hugely challenging.
