Soft Space's Fasstap Sets New Standard As First Global MPoC-Certified SoftPOS

Soft Space Sdn. Bhd. ("Soft Space"), globally recognized as a pioneering fintech-as-a-service (FaaS) provider, has achieved a significant milestone with its SoftPOS solution, Fasstap, becoming the first globally to secure the Mobile Payment Commercial Off-the-Shelf (MPoC) Solution Provider certification. This prestigious certification, awarded by the Payment Card Industry Security Standards Council (PCI SSC), underscores Soft Space's leading position in the fintech industry.

Fass Payment Solution Sdn Bhd ("Fasspay"), a subsidiary fully owned by Soft Space, has the distinction of being the world's first acquirer to implement a live MPoC-certified SoftPOS solution. Notably, Fasstap also holds the honor of being the first SoftPOS solution in the market to facilitate secure PIN authentication, having been certified by Payments Network Malaysia Sdn. Bhd (PayNet) since October 2018 and later by Visa in July 2019.

The MPoC certification represents the most comprehensive PCI SSC certification for SoftPOS solutions to date. It enables Soft Space to launch a live end-to-end SoftPOS solution across any global market, distinguishing itself from providers with only partial certifications. The complete MPoC certification spans all domains from frontend to backend, offering a substantial advantage over other solutions that may require additional certifications for a full market launch.

Joel Tay, Chief Executive Officer of Soft Space, highlighted the strategic decision to pursue a complete MPoC Solution certification, setting Soft Space apart as a market leader. "Being first in the world to achieve end-to-end MPoC Solution certification is a real game changer for Soft Space and is the ultimate validation that Fasstap is the market leader for SoftPOS," Tay remarked, emphasizing the company's leading position and its competitive advantage in bringing Fasstap to market ahead of others.

MPoC is now the most comprehensive and adaptable standard, surpassing previous standards such as Software-based PIN Entry on Commercial Off-the-Shelf (SPoC) and Contactless Payments on Commercial Off-the-Shelf (CPoC). This development positions Soft Space as the preferred partner for banks, acquirers, neobanks, and other solution providers in search of a reliable and secure MPoC-certified SoftPOS solution.

Soft Space's achievement in obtaining MPoC Solution certification is a testament to its commitment to meeting the payment industry's highest standards. "Obtaining MPoC Solution certification is a complex, time-consuming process and is no easy feat. Soft Space's achievement underscores our unwavering commitment to meet the payment industry's highest standards," Tay stated, underscoring the company's dedication to delivering digital, frictionless, and cost-effective payment solutions for merchants, banks, and acquirers worldwide with confidence.

This certification also complements Soft Space's previous achievements, including being the first to receive PCI SPoC certification in August 2019. Currently, Soft Space boasts the largest SoftPOS deployment globally, holds patents in various countries, and has developed the most SoftPOS use cases, including innovative applications in transit and logistics.

In the evolving fintech landscape, Soft Space's early certification as an MPoC-certified solution provider sets a new standard, offering a strategic edge over competitors. As the industry moves forward, the MPoC standard is poised to redefine the contactless payment scene, with Soft Space leading the charge.