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Soft Space to join Visa's Fintech Fast Track Program in Malaysia

Thursday 21 May 2020 13:54 CET | News

Visa has announced that Soft Space Sdn. Bhd. is joining Visa’s Fintech Fast Track program, becoming the first fintech partner to do so in Malaysia, according to the official press release.

The program allows fintech partners to build and deliver commerce experiences on Visa’s payments network. Soft Space is a fintech company in Southeast Asia, headquartered in Kuala Lumpur that aims to support financial infrastructures for banks and financial companies.

As part of the Visa Fintech Fast Track program, the two companies will work together to enable startups and technology companies to work with Soft Space to launch Visa prepaid card products in Malaysia. This solution is introduced through Soft Space’s wholly owned subsidiary, Fass Payment Solutions Sdn. Bhd. (‘Fasspay’), which is an e-money license holder regulated by Bank Negara Malaysia.

This is not the first time that Visa and Soft Space are working together. In June 2019, the two organisations collaborated on developing Maybank’s Tap2Phone solution. Tap2Phone supports PIN-based contactless card acceptance on NFC-enabled (near-field communication) Android smartphones. The launch is aimed at supporting small businesses as well as delivery and sales agents, all of whom can enable card payments via the app instead of using a point-of-sales (POS) terminals.

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Keywords: Visa, Fintech Fast Track Program, Malaysia, card payments, PIN, contactless card, Soft Space
Categories: Banking & Fintech | Payments General
Countries: Malaysia
This article is part of category

Banking & Fintech