A pilot program to test CBDC acceptance was launched by the Japan Credit Bureau in collaboration with fintech company Soft Space and payment card provider Idemia.
They want to finish developing JCBDC (JCB Digital Currency) by the end of the year and start testing it with merchants in Tokyo by March 2023.
In addition to biometric payment cards, Idemia will offer offline payment options for digital currencies.
Romain Zanolo, managing director of APAC financial institutions at Idemia, says CBDCs are redefining the payment ecosystem.
“We’re proud that our ability to innovate has enabled CBDC payments with existing card and POS terminal hardware. Idemia’s, JCB’s, and Soft Space’s joint payment system expertise will usher in worldwide CBDC growth.”
There’s a similar project in Turkey. Government officials said they’re working on a CBDC that’ll be integrated with the central bank’s FAST instant payments service and digital identity system.
CBDC’s new phase, announced in September 2021, will test its use in payments and wholesale banking.