IDEMIA partners with Soft Space to make it easier for merchants to accept contactless payments. Soft Space is the developer of the Fasstap Tap on Phone solution, which essentially turns standard consumer devices like tablets and smartphones into secure payment terminals.
Once Fasstap is set up, customers can present either a contactless payment card or a phone-based mobile wallet like Apple Pay to make a payment in-store, just as they would at a traditional payment terminal. The solution is particularly attractive to small merchants, as it allows them to upgrade their payment infrastructure without having to invest in dedicated (and expensive) payment hardware.
IDEMIA, meanwhile, will integrate Fasstap with its own digital payment and identity platforms. Its identity technology will likely ease the onboarding process, so merchants can set up their Fasstap accounts faster and start accepting contactless payments on their mobile devices.
Soft Space first unveiled its Tap on Mobile technology in conjunction with JCB in 2020. Fasstap has since been certified for use with all major card systems, and IDEMIA hopes this partnership will accelerate digital transformation in the industry. of retail. Tap the phone supports PIN verification for additional transaction security.
“Our collaboration will advance the global acceptance of contactless cards, expand new markets for both companies, while meeting the needs of all stakeholders in the payments value chain,” said Joel Tay, CEO of Soft. Space.
“We are pleased to partner with [Soft Space] to deliver digital, frictionless and cost-effective payment acceptance to merchants and financial institutions around the world,” added Mehdi Elhaoussine, SVP of IDEMIA Digital Financial Institutions. “This partnership will also allow us to enter new market segments, bringing us closer to realizing our vision to transform payment services by bringing the physical and digital worlds closer together.”
IDEMIA has now achieved Visa and Mastercard certification with its latest biometric payment card. The company is also working to bring digital identity documents to the general public.