View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
December 24, 2020updated 13 Jan 2021 1:24pm

Soft Space Taps into GMO Financial Gate Network, advances cashless payments in Japan

By Douglas Blakey

Asian fintech Soft Space is leveraging GMO Financial Gate Inc’s advanced payment gateway technology. The deal promotes Soft Space’s payment solutions within the Japanese market. With this connection in place, Soft Space will be able to support secure and seamless Europay, Mastercard, and Visa (EMV) transactions. And it allows it to introduce its suite of innovative payment solutions into various industry sectors within markets in Japan.

Developed in-house by Soft Space, these payment solutions capitalise on the convenience of smart devices to perform cashless card transactions. Merchants and partners that adopt these payment solutions stand to benefit from being able to securely transact and lower their cost of operation.

Soft Space GMO-FG: advancing cash displacement in Japan

“Soft Space is grateful to be part of the initiative to advance Japan’s payment scene through our partnership with GMO-FG,” says Joel Tay, the chief executive officer of Soft Space. “Japan has been pushing cashless acceptance, particularly contactless payments. This collaboration will enable us to expand and establish our presence across Japan and give options to a variety of sectors to adopt our payment solutions.”

“The current pandemic has recognised going cashless as a social responsibility. We are pleased to work alongside Soft Space, a key player in the area of contactless payments,” adds Kentaro Sugiyama, CEO of GMO-FG.

“This enables us to meet our merchants’ requirements in providing them with a safe and secure cashless platform while contributing to Japan’s cashless market growth.”

Soft Space launches Fasstap

In an effort to further encourage contactless payments in Japan, Soft Space has launched its Fasstap. This is a Tap to Phone solution adopted by an auto-machine manufacturing company. As a result, it can equip buses with the ability to accept card transactions on an Android based tablet. The initiative is a first in Japan. Moreover, it is endorsed by one of the largest global card schemes in an effort to spur contactless card acceptance.

In addition, Soft Space’s solution supports Japan’s Ministry of Land, Infrastructure, Transport and Tourism contactless initiative. Passengers can pay by simply tapping their contactless cards on a tablet equipped with Soft Space’s solution. With Japan driving its cash-centric nation towards the goal of doubling cashless ratio to 40% by the year 20251, Soft Space’s engagement with GMO-FG is a stepping stone to spur Japan’s cashless acceptance. In near future, both parties aim to deploy more acceptance points in a variety of industries in Japan.

Founded in 2012, Soft Space is headquartered in Kuala Lumpur, Malaysia.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International