Soft Space in business alliance with Sumitomo Mitsui Card Company
By Digital News Asia October 10, 2017
- Integrate and customise mobile point of sales (MPOS), e-wallet solutions
- Provide EMV card readers, collaborate in digital payments opportunities with SMCC
SOFT Space Sdn Bhd reached an agreement to form a business partnership with Sumitomo Mitsui Card Company (SMCC), a company belonging to Japanese conglomerate Sumitomo Financial Group (SMFG) with Sumitomo Mitsui Banking Corporation (SMBC) as its centerpiece.
The agreement involves integrating and customising Mobile Point of Sales (MPOS), e-wallet solutions, providing EMV card readers and collaborating in digital payments related opportunities with SMCC.
This business collaboration between Soft Space and SMCC is set to increase and gain a competitive edge from both of their synergistic strengths.
The partnership will increase their brand awareness, expand their customer base and enhance their products and services that they are offering.
The partnership includes “targeted countries” such as; Malaysia, Singapore, Philippines, Thailand, Vietnam, Indonesia, Myanmar, Cambodia, India and Japan.
In January 2017, Soft Space and SMCC signed a Memorandum of Understanding (MOU) to offer innovative payment solutions in Southeast Asia and Japan.
This collaboration has introduced Soft Space’s solution to local Japanese companies and banks which are in partnership or in existing business relationship with SMCC and SMBC within their strategic focused countries mentioned above.
Soft Space is a fintech player in Asean and a MPOS provider that aims to transform the payment industry.
Soft Space is the first company in Asia to obtain a centralised EMV Level 2 certification for cloud-based server, and their solutions are certified by EMV, PCI and major card schemes; making it secure, credible and recognized globally.
“This business alliance with SMCC will assist Soft Space in achieving our strategic business objectives and increase our growth opportunities in the targeted countries. Through this business alliance, Soft Space hopes to create stronger relationship with SMCC, SMBC and other SMFG affiliates for mutual business expansion," said Soft Space CEO quoted Joel Tay.
He also said that the partnership can provide important consumer behaviour data and information in order to improve Soft Space’s payments solutions.
“We hope that the alliance can help spread Soft Space’s reach to different Asean countries that the company has not yet ventures into,” added Soft Space chief strategy officer Chris Leong.
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