Fintech-as-a-service (FaaS) provider Soft Space has partnered with Japan-based international payments brand JCB to launch a payment gateway in Malaysia. This development marks a step forward in the strategic partnership between Soft Space and JCB, initiated in January 2022, following their CBDC trial in December 2023 and an agreement to enable JCB acceptance for all HLB merchants.

The JCB payment gateway uses JCB’s global network and Soft Space’s technical capabilities to cater to the increasing demand for secure digital transactions. Soft Space offers an API specification allowing acquirers and payment facilitators to grant retail merchants access to JCB’s network without a direct connection, serving over 156 million card members globally as of September 2023. In the company press release, officials from Soft Space talked about this new partnership and emphasised its alignment with Malaysia's prominence in tourism.

Specifically, the initiative is expected to benefit ecommerce merchants, particularly in the tourism sector, tapping into the growing international ecommerce spending by JCB card members, which increased by 52% from 2021 to 2022 according to the company press release. Officials from JCB International Co., Ltd., highlighted the significance of this partnership in catering to the evolving consumer behaviour, especially with the surge in online shopping post-pandemic. The first member of the JCB payment gateway, senangPay, a Malaysian payment facilitator, anticipates enhanced business opportunities for its merchants by integrating JCB card acceptance into its ecosystem.

This collaboration underscores the potential of Soft Space and JCB to offer comprehensive payment solutions globally, signalling a commitment to transforming the payments landscape. More information about the two companies JCB, established in 1961 in Japan, has expanded its presence worldwide, serving over 156 million card members and forming alliances with numerous banks and financial institutions globally. Founded in 2012 and headquartered in Kuala Lumpur, Soft Space serves over 90 financial institutions and partners across 30 global markets, offering mobile contactless payment solutions and white-label e-wallet services to facilitate digital payments adoption.

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