IDEMIA partners with Soft Space to enable Tap on Phone payments
The partnership aims to deliver strong digital-first payment acceptance capabilities for merchants and acquirers worldwide
April 5, 2022
This is an abridged version of the press release announced on March 2, 2022, by Malaysia’s fintech player, Soft Space Sdn. Bhd. (Headquarters: Kuala Lumpur, Malaysia; Chief Executive Officer: Joel Tay), a group company of transcosmos.
IDEMIA, the global leader in Augmented Identity, partners with Soft Space, the world’s leading Fintech player in SoftPOS to enable contactless payment acceptance. Through this collaboration, merchants and acquirers around the world will be able to accept card and mobile wallet payments by simply transforming a smartphone or tablet into a point-of-sale (POS) terminal. By combining its digital payment and identity platforms with Soft Space’s flagship “Fasstap” Tap on Phone solution, IDEMIA is building comprehensive digital first capabilities for merchants of all sizes.
Designed to support contactless card payment, “Fasstap” is the world’s first Tap on Phone payment solution with PIN verification, certified by all major global card networks. This Tap on Phone payment solution streamlines the on-boarding of merchants looking to embrace digital payment acceptance. It is also cost-effective as merchants can use existing consumer-grade devices, such as mobile and tablets. Meanwhile, consumers are now able to enjoy the speed, convenience and security of digital payments in an in-store setting. They simply need to tap their contactless card or mobile phone on the merchant’s off-the-shelf device to make a payment.
“Whether you tap, touch or click, our mission is to provide convenient, secure and sustainable ways to pay. We are the trusted partner to our customers on their journey to extend essential financial services to everyone. Soft Space is a best in class Tap on Phone solution provider among certified vendors, and we are pleased to join forces with them to deliver digital, frictionless and cost-effective payment acceptance for merchants and financial institutions worldwide. This partnership will also enable us to enter new market segments, taking us a step closer to realise our vision of transforming payment services by bridging the physical and digital worlds,” said Mehdi Elhaoussine, Senior Vice President, Digital (Financial Institutions) at IDEMIA.
“We are pleased to partner with IDEMIA, which has a distinguished history of innovation and a strong track record in delivering transformative payment solutions,” said Joel Tay, Chief Executive Officer at Soft Space. “We are also excited by our collaboration as it will definitely advance worldwide contactless card acceptance, grow new markets for both companies, while addressing the needs of all stakeholders in the payments value chain.”
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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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