Updates: The Acquisition of Fasspay

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It’s been 4 months since Soft Space acquired Fasspay, a Malaysian based payment service provider. With its growing merchant base, we see how mPOS benefits and creates businesses opportunities across various types of industries.

In October 2014, Soft Space acquired Fasspay, a payment service provider company – to cater directly to merchants’ demands for a slew of value added services to mobile payments. The acquisition, which was mentioned in TechCrunch, has given Soft Space the opportunity to reach out and gather feedback directly from the merchants. Though Soft Space maintains its primary relationship with financial institutions, this initiative enables Soft Space to create and innovate payment solutions according to the wants and needs of the merchants.

This acquisition has played a vital part in the growth of Soft Space’s innovation as Fasspay’s direct relationship with merchants using mobile-Point-of-Sales (mPOS) provides clarity on the usage of mPOS as a whole. Fasspay now has a variety of merchants. It is exciting to see how diverse these businesses are and how uniquely mPOS fits into their businesses. Below are a couple of short case studies on the merchants using mPOS.
Fatty Crabs, Midvalley

“After Fasspay trained our delivery team, now our customers at home can pay for their crabs by card!” Ms. Su, GM

“The crab delivery experts know that the craving for fresh, steaming hot crabs can come anytime. When an average bill runs up to RM200, not everyone at home can act on the urge to dial for a delivery without cash on hand. Since introducing MPOS, Fatty Crabs has been able to satisfy the urges of delivery customers who prefer to pay by card. Two MPOS devices in the restaurant itself means walk-in diners can settle their bills at the table, and faster turnaround times. All the delivery riders were trained to use the MPOS, and the owners no longer have to worry about cash pilferage or theft since the money goes directly to the restaurant’s account. Overall delivery efficiency can be managed as the timeliness of the deliveries can be tracked by comparing the transaction authorisation time on the email merchant receipt against the time the order was made.”

WT Versatile Car Care, Section 17 Petaling Jaya

“I’m happy all I need is my iPad and reader, and I’m ready for business. My mechanics find it easy to use too.” Mr T.S Wong, Owner.

“Customers who come in for car repairs, servicing and part replacements, are surprised that a little car care centre in an unassuming location in Section 17, PJ sports such cutting edge technology. Since MPOS, WT Versatile has elevated the customer experience. Cars sent in for WT Versatile’s special touch can be driven home to their owners once the service is completed. Owners can then inspect their vehicle, and pay on the spot via MPOS. Even customers needing emergency roadside services can get their cars fixed, pay on the spot and go. Since all receipt copies are issued via email / SMS to the customer and WT Versatile, the car centre can focus on what they do best, car, and not mounds of paperwork.”

Sprouts Kids, The School – Jaya One

“It’s great that the Fasspay app integrates with my tablet POS system, so our Sprouts customers get instant service instead of queuing.” Charles Wong, Owner

“An inventive concept like Sprouts Kids, that combines childhood development, education, health care, cafe and a retail outlet, needs an inventive point of sale(POS) experience. Sprouts knows that for busy mums on the go each minute is precious. To cut waiting times at the till, Sprouts staff have iPads running a Sprouts POS app which they patrol the floors with. Mums can grab an item from the shelf, and checkout via the tablet app instead of queuing up. Since managing cash without the register is problematic, each tablet is equipped with a mobile card reader, so mums can pay by card quickly and be on their way to their next errand in a flash.”

KTS Cellular, Samsung outlets

“It sets us apart from other phone dealers, and we can close sales anywhere, from our smallest kiosks to our biggest outlets.” Angie, CEO

“KTS has the perfect way to showcase the versatility of the multiple devices on display at their Samsung Outlets. Every demo device can now be turned into a functional mobile point of sales. This allows sales staff holding a card reader to manage a sale from end to end; call up the payment app on the device, plug in the card reader and close the sale without breaking the flow by directing customers to wait at the counter to pay. Since the terminals are mobile, roadshows out of the stores can be conducted without a hitch as KTS doesn’t have to specially apply for temporary traditional mobile terminals from their merchant bank. More sales staff empowered with terminals mean more sales in a day, compared to the days before MPOS where each outlet had to rely on a single fixed card terminal.”

Cubic Platforms, The Gardens and Pavillion

“It’s nice to have readers to go around when the store gets busy.” Tan, Store Manager

“Cubic has run HTC concept kiosks in malls like Pavilion, the Garden, KLCC and Sunway Giza. They used to rely on the malls to provide fixed lines for the card terminals before being able to launch new outlets. Since Fasspay works over WiFi or data, customers at new outlets can pay by card right away. Now, Cubic offers ‘card-on-delivery services’ to selected customers who order merchandise from their website, opt for delivery and pay via card at their doorstep, as each Cubic delivery driver is equipped with an MPOS. In terms of administration, the management like the immediate updates on sales at each outlet, via e-receipts and a daily settlement report sent directly to them. End-of-day closing is simpler and more efficient, without needing to physically collect transaction records and receipts from multiple outlets.”

If you are a merchant and you are interested in our mPOS solution, kindly reach out to Fasspay at mPOS enquiries.