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2017-03-14

JCB and Nowcast launch cutting-edge index "JCB Consumption NOW" using big data analytics -Grasping the actual scene of consumption activities in EC -


JCB Co., Ltd. (Headquarters: Minato Ward, Tokyo; President and Chief Executive Officer: Ichiro Hamakawa; JCB) and Nowcast, Inc. (Headquarters: Chiyoda Ward, Tokyo; President and Representative Director: Ryota Hayashi; Nowcast) have collaborated to release "JCB Consumption NOW" - an innovative service that provides consumption statistics using big data from credit card holders' payments and characteristics.

 

Co-developed and powered by JCB and Nowcast, Japan's only international payment brand and the Japanese forerunner in big data analytics, "JCB Consumption Now" is the cutting-edge index for tracking today's consumption activities.

 

The payment information and characteristics of JCB members who have permitted disclosure are adjusted to protect individual identity and published as consumption statistics on the JCB Consumption NOW website. JCB Consumption NOW provides 6 types of consumption index including E-Commerce from release.

 

Service Overview

Service Name JCB Consumption NOW Release Schedule March 14, 2017~: Website released, registration for membership opened
March 16, 2017~: Collection of samples started
May 2017~: First consumption statistics released Fees Membership free in the initial period of service's release (registration required) Indexes for Release Six types including EC consumption (further expansion planned) Release Schedule Twice a month Information Subject to Service Usage Payment details and other characteristics of JCB cardholders who have given permission for the disclosure of their information

 

Service Characteristics

(1) Multifacted Analysis
Indexes are developed using information from actual credit card settlements, allowing consumption trends to be traced like never before - by both industry and by forms of sales.

(2) Responsiveness
Our data is distributed in only 15 business days after collection, phenomenally improving the responsiveness of consumption indexes, compared to other survey-based statistics.

(3) Protection of Personal Information
Personal information used in the service will be limited to cardholders who have given permission for the service to provide statistical data to a third party. The data is modified so to secure personal information of cardholders.

 

Scenes in Which the Service May Be Used In

Previously, the reality of consumption activities were difficult to measure and identify. That changes today, with JCB Consumption NOW. JCB Consumption NOW is forecasted to boost analytical accuracy and speed up productivity for many professionals: including marketing specialists and strategy planners for retailers, security analysts and other experts involved in financial decision making.

Consumption accounts for over 60% of all economic activities. The service is also highly recommended for governmental bodies and administrative organizations for policy making and other uses.

 

About JCB Co., Ltd.

As the only international payment brand based in Japan, the company was established in 1961 and continues to expand its network worldwide through the building of domestic and international alliances and issuance of more JCB cards. JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. JCB cards are now issued in 23 countries and territories, with more than 100 million card members. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide.

For more information, please visit JCB Co., Ltd.'s corporate website.

 

About Nowcast, Inc.

The company is a recently established Fintech business venture originating from the University of Tokyo. Its objectives include the realtime provision of economic statistics and assisting companies build better business strategies through its cutting-edge big data analytics technologies.The company was established in February 2015 with the Todai Daily Prices Index (currently Nikkei CPINow) as its forerunner, and is expanding its realtime information provisions services, as well as enabling the asset management and research operations of more than 250 domestic and international financial institutions, thinktanks, governments, governmental financial institutions, and hedge funds. For more information, please visit Nowcast, Inc.'s corporate website.

Access Nowcast, Inc.'s corporate website here

 

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