Japan’s Largest Payment System to Test Payment Cards with CBDCs
Reading Time: < 1 minute
Japan’s largest payment system JCB will test in collaboration with IDEMIA and Softspace the possibility of using the existing credit card infrastructure for payments in CBDCs.
The project was named JCBDC. Platform testing will begin by the end of March 2023, and its creation is expected before the end of this year.
It will consist of three main areas: solutions for sensor payments, issue and provision of plastic cards and simulate the working environment of the digital yen.
It is planned to add trials of mobile payments and QR codes in the early stages of the project.
The Bank of Japan launched the first phase of testing the digital yen in April last year.
Follow and like us on
