The successful central bank digital currency (CBDC) trial that Soft Space and JCB conducted in December 2023, as well as the subsequent agreement to allow JCB acceptance for all HLB merchants, mark this important turning point in the strategic collaboration that was formed in January 2022.

By utilizing Soft Space's technological know-how and JCB's extensive worldwide network, the JCB payment gateway satisfies consumer demand for safe, cutting-edge payment solutions while also keeping pace with the global trend toward more varied digital transactions.Here, Soft Space offers a simple Application Programming Interface (API) specification that minimizes the need for acquirers and payment facilitators to create a direct connection with JCB in order to provide their retail merchants with access to the over 156 million cardmembers worldwide as of September 2023 (annual transaction volumes exceed JPY 43 trillion between April 2022 and March 2023) through a quick and efficient process.

The JCB payment gateway's inauguration coincides with Malaysia's status as Southeast Asia's most visited nation in 2023[1]. This will not only improve the ease, security, and smoothness of cross-border payments, but it also fits in well with our larger objective of promoting Soft Space's technology in other verticals including transit and in-flight payments internationally, stated Joel Tay, Chief Executive Officer of Soft Space.

This improvement will be very beneficial to e-commerce retailers, particularly those in the travel industry. More and more Japanese travelers are using online retailers to reserve their lodging and buy tickets for local attractions. They will have a great opportunity to profit from the JCB cardholders' fast increasing international e-commerce expenditure, which has climbed by 52% between 2021 and 2022, if they can begin taking JCB payments through payment facilitators.

"Looking at the behavior of today's consumers, online shopping has become an indispensable part of their daily lives and also the main source of growth for all businesses, including JCB," stated Yoshiki Kaneko, President and Chief Executive Officer of JCB International Co., Ltd. This pattern has been consistent since the pandemic.We are excited to provide this new feature in partnership with Soft Space in order to better serve our JCB cardholders and merchants and take advantage of the expanding e-commerce market. We are even more convinced that our connection with Malaysia's top fintech company is essential to our development since this signifies another significant milestone in our strategic engagement with Soft Space.

Soft Space will expedite the onboarding of additional acquirers and payment facilitators in the APAC region and beyond after senangPay, a Malaysian payment facilitator, became the first member of the JCB payment gateway. This will result in increased efficiency, security, and convenience for both merchants and JCB cardholders.

"At senangPay, we promote ease in business expansion by removing obstacles related to sending and receiving money. For our merchants, integrating JCB Card acceptance into the senangPay network is a major milestone, according to senangPay CEO Mansor Abd Rahman. "Providing a variety of payment choices and letting customers use their favorite methods of payment not only broadens SenangPay's payment solutions portfolio, but also helps our merchants engage with Japanese visitors and expatriates in Malaysia."

This accomplishment by Soft Space and JCB represents more than just a turning point in their strategic alliance; it also shows how their combined strengths can be leveraged to develop all-encompassing solutions for a worldwide clientele and how committed they both are to changing the face of international payments.