Visa has announced that Fintech company, Soft Space Sdn Bhd will be the first Fintech partner to join its Fintech Fast Track programme in Malaysia.
The programme by Visa aims to allow Fintech partners to build and deliver new commerce experiences on Visa’s payments network. The two companies will be working together to offer start-ups and technology companies the opportunity to work with Soft Space to launch Visa’s prepaid card products in the country.
This solution will be introduced through Soft Space’s wholly-owned subsidiary, Fass Payment Solutions Sdn. Bhd. (Fasspay), which is an e-money license holder regulated by Bank Negara Malaysia.
Visa’s country manager, Ng Kong Boon said in a press release, Visa will be working closely with Soft Space to support their growth in creating digital payment products that are relevant to the needs of cardholders in the country.
Soft Space’s chief executive officer, Joel Tay, said, “By joining Visa’s Fintech Fast Track program, our partners are able to introduce their own Visa prepaid cards, thereby offering more features including expense tracking and worldwide acceptance. Moreover, partners will not have to deal with complex technology and regulatory approval issues, thereby enabling them a quicker go to market in a cost-effective manner especially during uncertain economic times.”
Both Visa and Soft Space have collaborated prior to this, on developing Maybank’s Tap2Phone solution, which was aimed at catering to small businesses as well as delivery and sales agents.
The Visa Fintech Fast Track programme is part of Visa’s global strategy to open up our network and support a broad range of players that are developing new commerce experiences. The Fintech Fast Track program provides a new commercial framework that includes eased access to Visa’s payment capabilities and streamlined processes to support companies of different sizes and at different growth phases.