Soft Space has decided to join Visa’s Fintech Fast Track programme, the first fintech partner to do so in Malaysia.
Visa’s Fintech Fast Track programme enables fintech partners to create new commerce experiences on Visa’s payments network.
As part of the programme, the partners will work together to allow startups and technology companies to offer Visa prepaid card in the country.
Visa Malaysia country manager Ng Kong said: “In an age where digitisation is integrated into the lives of many people, there are huge opportunities for start-ups and technology companies to transform their business offerings to consumers.
“We will work closely with Soft Space to support their growth in creating digital payment products that are relevant to the needs of our cardholders in the country.”
Kuala Lumpur-based Soft Space, which is aimed at simplifying financial infrastructure, develops innovative payment services for the financial services industry.
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The card solution will be launched through Soft Space’s wholly-owned subsidiary Fass Payment Solutions – an e-money licence holder.
Soft Space CEO Joel Tay said: “By joining Visa’s Fintech Fast Track programme, our partners are able to introduce their own Visa prepaid cards, thereby offering more features including expense tracking and worldwide acceptance.
“Moreover, partners will not have to deal with complex technology and regulatory approval issues, thereby enabling them a quicker go to market in a cost-effective manner especially during uncertain economic times.”