JCB, Shopee unveil Southeast Asia collaboration

Saturday, Jul 25, 2020 10:43

Shopee ties up with JCB to enhance payment options. -- Photo Courtesy Shopee Vietnam

E-Commerce platform Shopee on Thursday announced a tie-up with JCB International Company Ltd (JCBI) that will offer online merchants and shoppers enhanced payment options. 

The partnership is launched in Indonesia, Thailand and Việt Nam and will be followed by Singapore and the Philippines in the coming months. 

JCB will offer year-round and seasonal discounts and an additional safe and secure payment method for shoppers; Shopee will also promote participating stores that support JCB.

Yoshiki Kaneko, president and chief operating officer, JCB International Company, Ltd said: “JCB is proud to be working with Shopee as we further commit to supporting our customers in the fast-growing Southeast Asia region. In particular, as consumer shopping habits shift to online and businesses digitise their activities, we want to be able to further cater to these evolving needs.

“Over the past 10 years Southeast Asia has been a growth market for JCB, and we are confident that together with Shopee we can provide high-quality payments services for businesses and consumers, and continue to grow together with the region.”

Terence Pang, chief operating officer of Shopee, said: “We are honoured to be a strategic business partner with JCB. As homegrown brands, both Shopee and JCB are deeply committed to supporting local Southeast Asian markets and businesses.

“We believe that JCB will bring added value to our eco-system and look forward to accelerating the digital economy in Southeast Asia together.”

In Viet Nam, from now until March 31 next year Shopee users will be offered special promotions when paying with JCB cards such as a discount of 15 per cent.  

JCB started its overseas expansion in 1981 by building acceptance of travel destinations for Japanese card members. Since the early 2000s it has focused on expanding to Asian markets.

It has more than doubled its card members in Thailand, Viet Nam, Indonesia, the Philippines, Myanmar, and Singapore between 2017 and 2019. 

A joint report by Google, Temasek and Bain & Company, found that the Southeast Asia internet economy soared to US$100 billion in 2019 after more than tripling in size over the previous four years. 

By 2025 it is expected to grow to $300 billion. — VNS

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