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Soft Space’ FasstapTM secures live MPoC-Certified Solution

By Gloria Mathias

March 05, 2024

  • BNPL
  • Cross Border Payments
  • Digital Payments
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Soft Space, Fintech News, Payments, Payments Technology, Payments Solutions, Payment Partnership, PayTech, Digital Payments, Online payments, Real Time payments, SWIFT, Domestic Payments, Cross border payments, International Payments, Global Payments, Payments News, Remittances, Foreign Payments Online Transactions, Money transfer, BNPL, Mobile Payments, E-Wallets, Payment Gateway, MPoC, Payments license, Soft Space (Soft Space), the FinTech-as-a-Service (FaaS) provider, has announced that its SoftPOS solution, FasstapTM, has received the Mobile Payment Commercial Off-the-Shelf (MPoC) Solution Provider certification, awarded by the Payment Card Industry Security Standards Council (PCI SSC).

As a result of this, Fass Payment Solution (Fasspay), a wholly owned subsidiary of Soft Space, is the first acquirer to deploy a live MPoC-certified SoftPOS solution. FasstapTM is the only softPOS solution on the market to support secure PIN authentication. It has been certified by Payments Network Malaysia Sdn. Bhd. (PayNet) since October 2018 and subsequently by Visa in July 2019.

The MPoC certification, given by the de facto authoritative payment standards body, is the most complete PCI SSC certification for SoftPOS solutions to date, one that will allow Soft Space to launch a live end-to-end SoftPOS solution in any market globally. This complete certification differs from partial certification of components such as MPoC software, assessment, and monitoring.

“Despite some solution providers having announced partial MPoC certification, they still can’t launch a complete live MPoC-certified solution. Rather than taking a piecemeal approach, Soft Space chose to focus on achieving a complete MPoC Solution certification. Being the 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 FasstapTM is the market leader for SoftPOS,” said Joel Tay, Chief Executive Officer of Soft Space.

MPoC is currently the most comprehensive and flexible standard and surpasses previous standards such as software-based PIN entry on commercial off-the-shelf (SPoC) and contactless payments on commercial off-the-shelf (CPoC), as well as various contactless standards for individual card schemes that VISA and Mastercard have come up with.

“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. With this, we can help any customer or partner to quickly and effectively promote and deliver digital, frictionless, and cost-effective payment acceptance for merchants, banks, and acquirers worldwide with greater confidence, as well as to enter more new market segments globally,” said Tay.

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