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 are not 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.