In a strategic partnership between Malaysian fintech Soft Space and Japanese payments firm JCB International, Malaysia’s first JCB payment gateway has been officially launched. This milestone, announced on April 22, 2024, is part of an ongoing collaboration between the two companies initiated in January 2022.
The new payment gateway, built leveraging Soft Space’s technological infrastructure and JCB’s extensive international reach, aims to enhance digital transaction options available in Malaysia. It enables local payment facilitators and acquirers to seamlessly connect retailers to JCB’s global network, which boasts over 156 million card members worldwide.
What sets this initiative apart is the efficient Application Programming Interface (API) provided by Soft Space, eliminating the need for direct integration with JCB. This streamlines the process for merchants, making it easier for them to accept JCB payments.
The e-commerce sector, particularly businesses in the tourism industry, is poised to benefit significantly from this development. With the availability of JCB payment options, Malaysian merchants can attract more Japanese tourists, who increasingly rely on online platforms for purchasing tickets and booking accommodations.
senangPay, a prominent player in the Malaysian payment ecosystem, has been integrated as the inaugural member of this new payment gateway. Following this successful launch, Soft Space plans to extend this service to other acquirers across the Asia-Pacific region and beyond.
Joel Tay, CEO of Soft Space, emphasized the significance of the JCB payment gateway in enhancing cross-border payments and promoting Malaysia’s status as the most visited country in Southeast Asia in 2023. He also highlighted Soft Space’s broader goal to promote its technology in various sectors globally, including transit and in-flight payments.
Yoshiki Kaneko, President and CEO of JCB International, expressed excitement about the collaboration’s potential to tap into the growing e-commerce market while providing an enhanced experience for JCB cardmembers and merchants. He underscored the milestone as a testament to the successful partnership between JCB International and Soft Space, affirming confidence in their joint efforts for future success.
The launch of Malaysia’s first JCB payment gateway marks a significant advancement in the country’s digital payment landscape, offering merchants and consumers greater convenience, security, and access to global payment networks.