Home>Company News>2022>Soft Space, Malaysia’s leading fintech player and a member of transcosmos group enters into strategic partnership with JCB

Soft Space, Malaysia’s leading fintech player and a member of transcosmos group enters into strategic partnership with JCB


At the same time, transcosmos acquires additional shares in Soft Space.

The two companies will help JCB expand its business in ASEAN

Tokyo/Kuala Lumpur, February 14, 2022 - The world’s leading fintech player, Soft Space Sdn. Bhd. (Headquarters: Kuala Lumpur, Malaysia; Chief Executive Officer: Joel Tay; Soft Space), a group company of transcosmos inc. (Headquarters: Tokyo, Japan; President & COO: Masataka Okuda) has announced a new strategic partnership with Japan’s only international payment brand, JCB Co. Ltd. (Headquarters: Tokyo, Japan; Chairman & Chief Executive Officer: Ichiro Hamakawa; JCB).

Soft Space is a pioneer digital payment company in ASEAN that provides innovative payment solutions, which focuses on mobile payments that includes its flagship Mobile Point-of-Sales (MPOS) solution. Soft Space is known as the first company in Asia to obtain a centralized 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. Soft Space has been granted the Domestic Investment Strategic Fund (DISF) and Pioneer Status Incentive for high technology industry by MIDA in December 2013 and the grant has accelerated Soft Space’s growth.

In 2017, transcosmos formed a capital and business alliance with Soft Space. Since then, transcosmos continued to expand its business across the ASEAN region, one of the world’s fastest-growing market. Harnessing the power of Soft Space’s mobile payment services and transcosmos’ contact centers, digital marketing and e-commerce services, the two companies deliver Omni channel customer relationship management (CRM) solutions that leverage both offline and online data to help clients grow in the market.

Now, Soft Space has formed a strategic partnership with JCB which involves a combination of US$5 million investment and a license agreement that allows Soft Space to issue JCB Cards and start merchant acquisition business for JCB in Malaysia. With its Tap on Mobile programme (*1), Soft Space will help JCB expand its merchant network and establish card issuing solutions in the country. Capitalizing on Soft Space’s Tap on Mobile programme, JCB will make a series of business collaborations with Soft Space such as offering new marketing solutions to financial institurions across ASEAN member states.

At the same time, Malaysian venture capital firm RHL Ventures has also made a capital participation in Soft Space, while transcosmos acquiring additional shares in Soft Space, increasing its shareholding ratio to around 30%.

In partnership with Soft Space, transcosmos will assist JCB in enhancing its business in ASEAN region.

(1*) JCB Contactless card or mobile device and various Soft Space marketing services can be used at any merchants that support JCB Contactless just by installing Soft Space apps to smartphones and tablet devices off the shelf.

*transcosmos is a trademark or registered trademark of transcosmos inc. in Japan and other countries.

*Other company names and product or service names used here are trademarks or registered trademarks of respective companies.

About 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/

About transcosmos inc.

transcosmos launched its operations in 1966. Since then, we have combined superior “people” with up-to-date “technology” to enhance the competitive strength of our clients by providing them with superior and valuable services. transcosmos currently offers services that support clients’ business processes focusing on both sales expansion and cost optimization through our 173 bases across 30 countries/regions with a focus on Asia, while continuously pursuing Operational Excellence. Furthermore, following the expansion of e-commerce market on the global scale, transcosmos provides a comprehensive One-Stop Global E-Commerce Services to deliver our clients' excellent products and services to consumers in 48 countries/regions around the globe. transcosmos aims to be the “Global Digital Transformation Partner” of our clients, supporting the clients’ transformation by leveraging digital technology, responding to the ever-changing business environment.

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