Fintech-as-a-service provider Soft Space and JCB International Co, the international operations subsidiary of JCB Co Ltd, have jointly introduced Malaysia’s inaugural JCB payment gateway.
This collaboration underscores their ongoing partnership, which began with the signing of an agreement in January 2022. The gateway launch also follows successful endeavours such as the central bank digital currency (CBDC) trial in December 2023 and an agreement to enable JCB acceptance for all HLB merchants.
Soft Space offers an API specification that enables acquirers and payment facilitators to provide their retail merchants with access to JCB’s network of over 156 million card members globally. This facilitates seamless transactions without the need for a direct connection to JCB.
Joel Tay, CEO of Soft Space, commented: “The launch of the JCB payment gateway complements the fact that Malaysia is the most visited country in Southeast Asia in 2023. Not only will this make cross-border payments more convenient, secure and seamless, it aligns well with our broader goal to promote Soft Space’s technology in other verticals such as transit and in-flight payments globally.”
After welcoming senangPay, a Malaysian payment facilitator, as the inaugural JCB payment gateway member, Soft Space aims to speed up the inclusion of additional acquirers and payment facilitators across the APAC region and beyond.
Mansor Abd Rahman, CEO of senangPay, described the integration as a “significant milestone” for its merchants.
“Offering diverse payment options, while allowing consumers to pay using their preferred methods, not only expands senangPay’s range of payment solutions, but also enables our merchants to connect with Japan’s tourists and expatriates in Malaysia.”
E-commerce merchants
E-commerce merchants, particularly in tourism, stand to gain as Japanese tourists increasingly use online platforms for bookings. Accepting JCB payments through facilitators positions them to leverage the rising e-commerce spending by JCB cardmembers, which surged 52 per cent from 2021 to 2022.
Yoshiki Kaneko, president and CEO of JCB International Co Ltd., outlined the vital role of online shopping in today’s consumer behaviour.
“We are delighted to launch the new function together with Soft Space to seize the growing business opportunity in the e-commerce business, while providing a better experience for our JCB card members and merchants. This also marks another milestone in the strategic partnership with Soft Space, giving us even greater confidence that our collaboration with Malaysia’s leading fintech is a key to success.”
