Collaboration will expand JCB’s presence in Southeast Asia and act as a bridge for Soft Space to link Japanese consumers with the region and vice versa
KUALA LUMPUR & TOKYO, Jan 13, 2022 – (JCN Newswire) – The world’s leading fintech player, Soft Space Sdn. Bhd. (“Soft Space”), has announced a new strategic partnership with Japan’s only international payment brand, JCB Co. Ltd. (“JCB”).
This strategic partnership is the first of its kind in Malaysia for the payment giant and involves a combination of US$5 million investment in Soft Space and a series of business collaborations that are aimed at capitalising on Soft Space’s fintech-as-a-service business model, technology and regulatory knowhow, and JCB’s global recognition, vast alliances and brand reach.
This is part of the first tranche of funding on the horizon for Soft Space with other investments to follow in the future. The partnership also demonstrates the confidence JCB has in Soft Space’s management, technology portfolio and execution strategy in today’s highly competitive fintech industry.
JCB owns and operates one of the largest payment schemes in Japan supporting about 37 million merchants and 140 million cardmembers around the world, by capitalising on Asia’s economic growth. Backed by these assets, JCB has a vision to become “Asia’s leading payment brand” and will expand the brand globally by leveraging its strength in Asia – especially in Southeast Asia (“SEA”) – to become a competitive brand preferred by Japanese and international cardmembers.
To this end, JCB has targeted SEA as a strategic business enhancement region and has established its ASEAN Business Enhancement and Creation Department in Singapore last June to seek business opportunities within the region. This will serve as a template for further strategic alliances and investments within the region.
The strategic partnership with Soft Space also aims to harness synergies between the two parties and includes the expansion of JCB’s merchant network, the establishment of card issuing solutions, and the provision of customer marketing solutions.
Other collaborative areas include, but not limited to, enhanced merchant acceptance, mobility-as-a-service (MaaS) and transit; payment gateways; cards-as-a-service (CaaS); white label services, API platform services and technical support services.
Both Soft Space and JCB are committed to accelerating cashless payment both in Malaysia and SEA by utilising competitive and advanced fintech technologies, thereby establishing a link between Japanese consumers to SEA.
“I am honoured to announce this investment and collaboration agreement. I believe this is not just an investment, but the first step towards realising the boundless possibility with Soft Space,” said Yoshiki Kaneko, President & COO of JCB International Co. Ltd. “We are capitalising on this opportunity to expand and secure our business in SEA by utilising Soft Space’s cutting-edge technology and robust network with the financial institutions. We are confident that this collaboration will go beyond Malaysia and expand across the globe.”
“We are humbled by this investment by JCB,” said Joel Tay, Chief Executive Officer of Soft Space. “Being JCB’s first investee in Malaysia assures us that we are on track to develop financial solutions that will fortify payment acceptance between Japan and SEA, and benefit both regions when borders open up again. This bridge between our regions will also serve as a roadmap for us to enter other regions globally in the future.”
Today, Soft Space has an expansive range of product offerings that span white-label e-wallet solutions to its flagship Tap to Phone technology, which is the world’s first SoftPOS solution to support secure PIN entry. The solution has received endorsements from major card schemes such as Visa, UnionPay International, Mastercard and Malaysia’s MyDebit, and has been deployed in some of the largest financial service institutions and corporate enterprises in the Middle East, North America, Europe, and Asia Pacific.
Um Soft Space
Founded in 2012, Soft Space is the world’s leading SoftPOS player headquartered in Kuala Lumpur, Malaysia. Soft Space simplifies the complexity of financial infrastructure and creates value-added features for businesses to expand their business growth. With over 30 financial institutions across 10 countries adopting its payment solutions, Soft Space is supported by MDEC’s Global Acceleration and Innovation Network (GAIN) programme and received financial support through MIDA’s Domestic Investment Strategic Fund in 2012. In 2018, Soft Space ranked 66th out of 1000 companies in Financial Times ‘FT 1000: High Growth Companies in Asia Pacific’ Special Report. Subsequently in 2020, Soft Space is also recognised as one of IDC’s Fastest Growing Company in 2020. For more information, please visit: https://www.softspace.com.my/
Brenda Lim
Samskiptastjóri
Tel: + 603 7494 1222
Tölvupóstur: [netvarið]
Um JCB
JCB er stórt alþjóðlegt greiðslumerki og leiðandi útgefandi og yfirtaka kreditkorta í Japan. JCB hóf kortastarfsemi sína í Japan árið 1961 og hóf að stækka um allan heim árið 1981. Samþykktarnet þess inniheldur um 37 milljónir kaupmanna um allan heim. JCB kort eru aðallega gefin út í löndum og svæðum í Asíu, með meira en 140 milljón kortmeðlimum. Sem hluti af alþjóðlegri vaxtarstefnu sinni hefur JCB myndað bandalög við hundruð leiðandi banka og fjármálastofnana á heimsvísu til að auka umfang söluaðila og kortafélaga. Sem alhliða greiðslulausnaveitandi skuldbindur JCB sig til að veita viðbragðsgóða og hágæða þjónustu og vörur til allra viðskiptavina um allan heim. Fyrir frekari upplýsingar, vinsamlegast farðu á: www.global.jcb/en/
Ayaka Nakajima
Samskiptasvið
Tel: + 81-3-5778-8353
Tölvupóstur: [netvarið]
Efni: Samantekt fréttatilkynningar
Heimild: JCB
Sectors: Cards & Payments, Media & Marketing, Blockchain Technology, Local Biz http://www.acnnewswire.com
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