Soft Space Raised USD $5 Million from transcosmos inc. for Strategic Investment
“Connecting Commerce with Smart Payments” to deliver top-notch customer relationship standards to its consumers.
Kuala Lumpur, 25th May 2017 – Malaysia’s leading fintech company Soft Space Sdn Bhd, receives USD $5 Million from Japanese leading e-commerce avant-garde transcosmos inc. to form a capital and business affiliation that will transform the digital payment industry for traditional businesses in Malaysia and Southeast Asia.
Soft Space and transcosmos inc. partnership introduces an omnichannel customer relationship management (CRM) solution that helps enhance clients’ digital engagements to a whole new level by delivering appealing ads, loyalty marketing programme that can directly send tailored discount coupons to customers’ smartphones that leverages both offline and online data. Merchants can also leverage on the chatbot services within the solution to further engage their customers.
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.
transcosmos inc. provides a one-stop digital communication, omni-channel marketing, and e-commerce solutions with multiple customer engagement features integrated with “transcosmos’s DECode”, a unique DMP (Data Management Platform) service suite which aggregates various informational data gathered via various communications channel ergo providing analysis on AI technologies.
According to Frost and Sullivan research, Southeast Asia is one of the world’s fastest-growing regions for e-commerce revenues estimated to exceed US$25 billion by 2020. There is a strong demand for retail goods and mobile commerce and people are jumping on the “e-commerce” bandwagon to seize on this opportunity.
“We are elated about this new partnership. Adding Soft Space’s mobile payment solutions to our existing DEC (Digital Marketing, E-Commerce, Contact Center) solutions will further increase the value of our digital transformation services for our clients, especially in the ASEAN market where we cannot ignore consumers’ shopping behavior in brick-and-mortar stores” said Masataka Okuda, the President & COO of transcosmos inc. “We seek to contribute for the clients’ business expansion by offering our CRM services, capitalizing on offline data, in addition to the online data, through implementing mobile payment solutions offered by Soft Space, a company which has a dominant presence in the ASEAN region” he added.
Chief Strategy Officer of Soft Space, Chris Leong quoted “Alibaba and Malaysia’s Government in providing DFTZ zone, the first of its zone outside of China. We believe that it would be a catalyst of the next wave of e-commerce growth”. He also said “As payments is integral part of any commerce, this partnership will position both companies to be the leading players in the region to help businesses transform digitally and to monetize on the trend of e-commerce in the region.”
About Soft Space
Founded in 2012, Soft Space is a leading fintech player in the ASEAN region headquartered in Kuala Lumpur, Malaysia. Soft Space focuses on the development of innovative resolutions for the banking and payment industry. With 20 financial institutions in 10 countries using its solutions, Soft Space had shipped 180k Mobile Point of Sales (MPOS) terminals to banks and benefiting thousands of merchants in Asia.
The company introduced the Digital Payment Hub in Taiwan, which is a payment platform consists of blockchain technologies, MPOS and Mobile wallet. It allows merchants to seamlessly and securely accepts payments methods from physical cards and mobile payments like AliPay, TenPay, and SamsungPay. The aggregate data from the program will be analyzed to help financial institution fight fraud, create merchant risk profile and improve lending credit scores for the customers.
In January 2017, Soft Space signed a Memorandum of Understanding (MOU) with Sumitomo Mitsui Card Company (SMCC) to offer innovative payment solutions in Southeast Asia and Japan that links to the Sumitomo Mitsui Financial Group (SMFG). The collaboration enables Soft Space to dabble into the Japanese fintech market catering the needs of the Southeast Asia customers.
For more information, please visit https://www.softspace.com.my/
About transcosmos inc.
transcosmos launched its operations in 1966. Since then, they have combined “people” with up-to-date “technology” to enhance the competitive strength of their 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 reduction through their 171 locations across 31 countries with a focus in 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 their clients’ excellent products and services to consumers in 49 countries around the globe. transcosmos aims to be the “Global Digital Transformation Partner” by supporting the clients’ transformation, leveraging on digital technology to respond to the ever changing business environment.