Malaysia’s First JCB Payment Gateway Launched via Soft Space Partnership
by Fintech News Malaysia April 22, 2024Malaysian fintech Soft Space and Japanese payments firm JCB International have launched the nation’s first JCB payment gateway. This development is part of an ongoing strategic alliance between the two companies, initiated in January 2022.
The collaboration has previously seen success in a central bank digital currency trial in December 2023 and the inclusion of JCB payment options for HLB merchants earlier this year.
The new gateway, which leverages Soft Space’s technological infrastructure and JCB’s international reach, aims to diversify digital transaction options available in Malaysia.
The gateway enables local payment facilitators and acquirers to connect retailers to JCB’s network, which has over 156 million card members worldwide.
This connection is established through an efficient Application Programming Interface (API) provided by Soft Space, negating the need for direct integration with JCB.
The e-commerce sector, particularly tourism-related businesses, is expected to benefit from this initiative. The availability of JCB payment options could attract more Japanese tourists who are increasingly using online platforms to purchase tickets and book accommodations.
Following the integration of senangPay as the inaugural member of this new payment gateway, Soft Space plans to expand this service to other acquirers across the Asia-Pacific region and globally.
Joel Tay
Joel Tay, Chief Executive Officer of Soft Space said,
“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.”
Yoshiki Kaneko
Yoshiki Kaneko, President and Chief Executive Officer of JCB International said,
“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 cardmembers 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.”
