Fujitsu Frontech Limited
Soft Space Sdn.Bhd.
Fujitsu Frontech, Soft Space Collaborate to Help Spur Contactless Payment Usage
Open opportunities to expand the use of contactless card payment with smart devices
Tokyo, Japan and Kuala Lumpur, Malaysia, June 30, 2020 – Fujitsu Frontech Ltd. and Asia's leading fintech company Soft Space Sdn.Bhd. have entered into a memorandum of understanding (MOU) that aims to jointly cooperate in order to significantly boost the usage of contactless card payment with smart devices in Japan.
Under the terms of the MOU, Fujitsu Frontech will work closely with Soft Space to comprehensively integrate its innovative payment software, known as Fasstap and FLite, into Fujitsu Frontech's smart devices such as enterprise-grade, handheld computing devices.
Being the leader in mobile sales force management in retail, healthcare and logistics, the integrated payment solutions will enable both companies to reach enterprises with their contactless payment solutions in segments that aren't on board as yet. The partnership also gives Soft Space an opportunity to enter the Japanese market.
While Japan remains as a cash-centric country, there is potential for growth in contactless card payment. With the Japanese government aiming to increase the cashless transaction ratio, this collaboration would help accelerate the initiative.
"Japan is advancing in contactless card adoption, which is in line with the government's aspiration. By having Soft Space's payment software natively within our mobile handheld products, we will be able to further spur this adoption by providing enterprise customers with another avenue for them to transact, and thereby growing both our business together," said Hiroki Kishimoto, General Manager of CPS Div., Fujitsu Frontech.
Commenting on the MOU, Chris Leong, Chief Strategy Officer of Soft Space said, "We are excited to partner with Fujitsu Frontech, a recognised industry leader that will help take our software payment solutions to the market by supporting and positioning us as a trusted contactless payment provider in Japan."
Developed by Soft Space's homegrown payment technology, Fasstap and FLite, are designed to support contactless card payment by leveraging the convenience of commercial off-the-shelf products such as smartphones.
Fasstap allows businesses to complete contactless payment also by tapping contactless cards swiftly on an NFC (near-field communication) Android-based smart devices.
Meanwhile, FLite enables a merchant's smart device to act as the settlement terminal by pairing it with the FLite reader via Bluetooth. In August 2019, Soft Space's FLite was the world's first to receive Payment Card Industry's (PCI) certification for its software-based PIN entry on commercial off-the-shelf (SPOC) standard.
About Fujitsu Frontech
As part of the Fujitsu Group, Fujitsu Frontech Limited ties people and ICT together through the development, manufacture and sales of front-end technologies such as ATMs, banking terminals, palm vein authentication system, RFID, and totalizator terminals. Fujitsu Frontech also offers related software, system integration and services as part of its total solutions. Fujitsu Frontech Limited (TSE: 6945) reported consolidated revenues of 91 billion yen (US$834 million) for the fiscal year ended March 31, 2020. For more information, please see https://www.fujitsu.com/jp/frontech/en/.
For media inquiries, please contact:
Public & Investor Relations Office
About Soft Space
Founded in 2012, Soft Space is a leading Fintech player in the APAC region 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 20 financial institutions in 11 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 2020, Soft Space is recognised as one of the fastest growing fintech companies in IDC Financial Insights Asia/Pacific's FinTech Fast 101 list.
For more information, please visit https://www.softspace.com.my/
For media inquiries, please contact:
Tel: +603 7494 1222
All company or product names mentioned herein are trademarks or registered trademarks of their respective owners. Information provided in this press release is accurate at time of publication and is subject to change without advance notice.