Fujitsu Frontech and Asian fintech company Soft Space are teaming up to boost contactless card payment in Japan. Under the terms of a memorandum of understanding, Fujitsu Frontech will work closely with Soft Space to integrate its innovative payment software, known as Fasstap and FLite, into Fujitsu Frontech’s smart devices such as enterprise-grade, handheld computing devices.
The integrated payment solutions will enable both companies to reach enterprises with their contactless payment solutions in segments that aren’t 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.
Japan government drive to reduce cash usage
With the Japanese government aiming to increase the cashless transaction ratio, this collaboration will 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,” says Hiroki Kishimoto, General Manager of CPS Div., Fujitsu Frontech.
Commenting on the MOU, Chris Leong, Chief Strategy Officer of Soft Space adds: “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.”
Leveraging the convenience of smartphones
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.