JCB, Malaysian partner explore ways to offer contactless mobile payment services
KUALA LUMPUR, NNA – Japanese credit card giant JCB Co. is conducting a joint feasibility study with Malaysian fintech firm Soft Space Sdn. Bhd. on contactless mobile payments.
The study is designed to help JCB and Soft Space develop their Tap on Mobile program by identifying any potential obstacles in rolling it out for actual use. The findings may lead to a launch in Japan as well as overseas, the card company said on Tuesday.
This trial is undertaken in Japan now and later in multiple foreign countries possibly including Malaysia, JCB spokeswoman Kumiko Kida in Tokyo told NNA on Friday. A commercial launch is expected to take more than a year.
The program builds on expertise that Soft Space learned when developing Fasstap, a near field communication-enabled payment system with PIN verification, the Malaysian firm said on its website.
Vendors would not need dedicated terminals for Tap on Mobile. Instead, Android smartphones with near field communication functions would make payments through the JCB Contactless system. Consumers could make payments simply by passing their JCB Contactless credit cards or mobile handsets over card readers.
The two firms will develop software for Tap on Mobile based on the outcome of their feasibility study. They will also explore the possibility of small-scale pilot projects to identify any barriers that would hobble the system’s practical use.
Soft Space was founded in 2012 and is headquartered in the Malaysian capital Kuala Lumpur. Tokyo-based Sumitomo Mitsui Card Co., a credit card service subsidiary of Sumitomo Mitsui Financial Group, Inc., and transcosmos Inc., an IT outsourcing service provider headquartered in Tokyo, have stakes in Soft Space.