The Japanese national payment system JCB is preparing a new retail product – plastic cards with digital yen support. The product was named JCBDC.
The existing payment infrastructure will be used to use the Japanese state cryptocurrency, and JCB enlisted the support of the French company IDEMIA and the Malaysian Softspace to develop the digital yen payment platform.
It is planned to test three aspects – the performance of cards with digital yen support, contactless payments and a separate payment system in CBDC. JCB plans to create a portal for mobile payments in the national cryptocurrency with support for QR codes. True, at a later stage of project development.
Interestingly, testing should be ready by the end of this year, and experiments in real retail stores will begin by March 2023.
The Bank of Japan has already tested the digital yen, but in August it was reported that work on the project was suspended.
Source: Bits
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