Banco Santander and JCB expand partnership to boost e-commerce portfolio in Spain
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JCB and Banco Santander today announced that they have expanded their partnership in a bid to support e-commerce exchange between JCB’s 140 million cardmembers and the Bank’s online merchant portfolio in Spain. The new development will enable Banco Santander’s merchant partners to welcome increased revenue by utilising J/Secure 1.0 on their online platforms.
Rubén Justel, Managing Director at 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.”
Earlier this year, JCB and Banco Santander expanded this collaboration to additionally support online exchange between JCB cardmembers and Banco Santander’s e-commerce merchants. This extensive merchant list includes those in the retail, hospitality, transportation, travel, restaurant, and education sectors, to name a few.
The companies stated that the secure platform is expected to boost online shopping experiences and identifies cardmembers by requesting a password. J/Secure 2.0 (based on the EMV 3-D Secure Protocol and Core Functions Specification) is set to follow the additional expansion in future.
Tsuyoshi Notani, Managing Director, JCB International (Europe) Ltd. said, “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.”
Banco Santander this year, launched its low-cost international money transfer service, PagoFX in the UK. The Bank states that PagoFX will enable UK residents with a debit card to transfer money abroad from their smartphone with low costs, bank-level security and customer support through via in-app chat, web and e-mail. Santander said that amidst the COVID-19 pandemic, the transfer service’s customers would be allowed to send money abroad with no fees for the next two months.
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