JCB Acquires One-Third Interest in EMVCo

"From our unique position as an international payment brand, card issuer and merchant acquirer, JCB brings an extensive and valuable set of chip card experiences to EMVCo. We look forward to leveraging these lessons and finding innovative and creative ways to contribute to achieving EMVCo's mission," said Atsushi Gondo, executive officer of Advanced Technologies & Solution Development Headquarters at JCB Co., Ltd.

"EMVCo is pleased that JCB has become a member of the organization. JCB's status as a global payment organization, coupled with its participation in the Japanese and Asian smart card markets, aligns well with EMVCo's goal to ensure worldwide interoperability of smart card payment systems through the EMV Specifications," said Art Kranzley, chair of the EMVCo executive committee and executive vice president and chief e-business officer at MasterCard International.

Gaylon Howe, member of the EMVCo executive committee and executive vice president of Consumer Product Platforms at Visa International, added, "JCB has been deploying an EMV-compliant infrastructure since 2001. With half of its 51 million branded cards predicted to be EMV compliant by April 2005, JCB's commitment to EMV is without question."