Another mobile card payment solution has hit the mainstream. However, Malaysia-based Soft Space is unique in that it decided to cater to the market in Asia. Additionally, Soft Space is the first payment solution in Asia to receive full EMV accreditation, which led to it being the first in Asia to launch an mPOS solution as well, according to a recent Tech In Asia article.
According to company founder and CEO Chang Chew Soon, Soft Space has the largest client base in Asia right now.
“If you look at card penetration in Malaysia, we have about 20 million ATM cards out there right now,” Chang said. “So if you put that together with the number of credit or debit cards floating in the market, I would say that almost every citizen in Malaysia should have a card to use for payments. And our Soft Space solution accepts a variety of cards, from ATM to Amex.”
Chang explained to the news source that Soft Space was likely able to become certified in just three months because many of its employees came from the payments industry, and knew how to build apps and interfaces with bank solutions.
Going forward, Chang said that his company plans to keep making waves in the industry, especially with its newfound one-to-one matching grant worth RM18.4 million (US$5.6 million) from the Malaysian Investment Development Authority (MIDA).
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