Soft Space passes UnionPay International's test for its SoftPOS solution

Monday 14 June 2021 13:48 CET | News

China-based security service provider National Fintech Evaluation Center has announced that Soft Space has passed UnionPay International’s SoftPOS application test for its Fasstap solution.

This enables off-the-shelf mobile devices to accept UnionPay contactless payment transactions without the need for any additional hardware. As stated in the press release, Soft Space is the first fintech company in the world to pass UPI’s SoftPOS Application test for the Fasstap solution. In addition to that, Malaysia will be the first country in the world to launch this UPI SoftPOS solution which is targeted for the lower-tier merchants in the market.

By converting commercial off-the-shelf devices into payment terminals, all types of merchants, including those in the SME category, can now accept card payments using Android mobile devices with NFC.

UnionPay International requirements provide a security framework to protect the confidentiality and integrity of sensitive payment information captured and processed in contactless payment transactions.

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Keywords: UnionPay, mobile payments, SMEs
Categories: Payments & Commerce | Mobile Payments
Countries: Malaysia
This article is part of category

Payments & Commerce