Listen to this articleSoft Space is a digital payments company focused on innovation and development of mobile payment solutions. The company’s mission is simplifying payments through a combination of Mobile Point-of-Sales (MPOS), Mobile Wallet and blockchain technologies while enabling merchants to accept all forms of payments with their mobile phones.
To find our more about their platform we sat down with Chris Leong, CSO at Soft Space:
Q: Chris, you’ve recently announced $5m in Series A Round; could you tell us something more?
A: This USD5M series A investment is a strategic partnership from transcomo inc. – a Japanese listed company, presented in 171 locations across 31 countries that focuses on the Southeast Asia region. transcosmos inc provides a comprehensive One-Stop Global E-Commerce Services to deliver their clients’ excellent products and services to their consumers in 49 countries around the globe.
The alliance posed as an opportunity for both Soft Space and transcosmos inc. to work closely together in bringing a more comprehensive omnichannel payment solutions to merchants in both online and offline platforms. This will ultimately revolutionalise the digital payment industry and help traditional businesses with their transactions.
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Q: What makes Soft Space a good choice?
A: Soft Space aims to change the mobile payment industry by offering innovative and integrated method of payments for a more better, faster and transparent services to users. We have over 20 major local players in banking and payment industry across 10 countries, including Malaysia, Thailand, Singapore and Indonesia.
Our solution is the first centralized EMV system in Asia, to allow full-scale, real-time management of transactions. Our platform offers a secure, mobile, convenient, cost efficient method of card payment acceptance to businesses. Currently, we have shipped 180k Mobile Point of Sales (MPOS) terminals to banks and benefiting thousands of merchants in Asia.
Through this, we can kick-start many of the value added services to enable traditional merchants to transform themselves digitally to compete in this digital era.
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Q: Who are the primary clients of Soft Space and what are some of the key challenges you are helping them solve?
A: Our primary clients are banks and the biggest challenges (or we see this as an opportunity) for banks at the moment is how they can offer innovative solutions in a cost effective manner to acquire more users.
In Southeast Asia, there is a strong smartphone penetration rate that reaches about 780 million consumers. We provide mobile payments solutions to the banks in order for them to assists both the merchants and cardholders to place their payment needs effortlessly through their smartphones.
Q: What kind of solutions do you offer to your clients?
A: Right now, we offer white labeled mobile point of sales solutions and mobile wallet solutions. We believe that payments should be seamless, easy and secure; whenever and wherever you are!
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