PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Innovative Software-Based Contactless Payments Solution Launches in Hong Kong to Enable Safer Payments for Merchants in the Region

PaymentsJournal by PaymentsJournal
March 10, 2021
in Contactless, Merchant, Press Releases, Security
0
FenFu For You: China’s Tencent Launches a Credit Card Product

FenFu For You: China’s Tencent Launches a Credit Card Product

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

LONDON: MYPINPAD, a leader in PCI certified payments software solutions together with Hong Kong’s leading payment terminal manufacturer and payment solution provider, SPECTRA Technologies, today announced the launch of a software-based contactless payments solution for smart devices that will revolutionise the customer experience for small and micro merchants in Hong Kong.

SPECTRA Technologies, a technology partner with MYPINPAD, has developed SoePay, a ubiquitous SoftPOS solution for accepting contactless Visa and Mastercard card payments on any Android smartphone. SoePay is a mobile payment solution that eliminates POS rental and provides an affordable and secure way for small and micro merchants to accept card payments.

This is a significant step in mobile payment acceptance for Hong Kong. By transforming mobile devices into payment terminals, SoePay enables merchants to securely accept payments from cards and mobile devices in many situations where cash is needed, such as at events, markets and outdoor stalls.

Established in 1993, SPECTRA Technologies provides payment terminals and aftersales services with customers including KFC, 7 Eleven, H&M, and Shangri La Hotels and Restaurants. It exports products and holds partnerships in more than 65 countries and is a key promoter in Asia for cash to e-payment.

The news of the first transaction comes following the October 2020 announcement of the Hong Kong government’s subsidy scheme to promote contactless payment in public markets under the third round of the Anti-epidemic Fund, which the Food & Environmental Hygiene Department opened for applications. The scheme was created to encourage the use of contactless payments to improve public hygiene and reduce virus transmission risk in street markets.

Head of Asia Pacific at MYPINPAD, Morten Hofstad commented: “MYPINPAD’s contactless payment software is the first to be globally certified by PCI to accept contactless payments on smart devices without requiring additional hardware. With Hong Kong so prominent in Asia for contactless payments, we are privileged to work with such a tech savvy company, like SPECTRA Technologies, to deploy their solution and increase the reach of contactless payments in the country. This is just the start of MYPINPAD’s payments software presence in APAC as we continue to deploy solutions elsewhere in the region over the coming months. We very much look forward to growing our partnership with SPECTRA Technologies in developing secure payments and enhancing the customer experience.”

Damien Chow, Director of Digital Payment, Spectra Technologies: “SoftPOS is a key strategic initiative of SPECTRA Technologies to make payment acceptance safe, affordable, frictionless and hassle-free for our customers. We’re proud to be the first in Hong Kong to launch a SoftPOS solution that supports Visa and Mastercard contactless payment.  We look forward to further evolution of SoePay and accelerating contactless adoption in Hong Kong and Asia with MYPINPAD.”

Helena Chen, Managing Director, Hong Kong and Macau, Mastercard: “Mastercard is thrilled to join forces with MYPINPAD and SPECTRA to further expand the Mastercard Tap on Phone acceptance network with the launch of the new SoePay solution, which provides safe, fast and secure contactless payments that meets consumers’ everyday needs. The Mastercard Sonic feature is also applied to SoePay, which accompanies payments with a sound that indicates cardholders’ successfully made payment. The new partnership is in line with Mastercard’s ongoing commitment to promote contactless payment across the city and to support local SMEs’ future development through digitalization.”

Maaike Steinebach, General Manager, Visa Hong Kong and Macau: “Visa is excited to partner with MYPINPAD and SPECTRA to enable off-the-shelf ‘tap-to-phone’ mobile devices to accept contactless payments without additional hardware in Hong Kong. More than seven in ten of all face-to-face Visa transactions are contactless. This new low-cost and simple solution will help micro, small and medium-sized businesses stay competitive on their digital transformation journeys.”

Please visit www.mypinpad.com and https://soepay.com/en/ to discover more about this transformational technology.

Tags: ContactlessHong KongMerchantsPaymentsPress ReleaseSecure Payments
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    Everyone Benefits from the Real-Time Payment Networks  

    Everyone Benefits from the Real-Time Payment Networks  

    March 22, 2023
    commercial payments

    Optimizing Commercial Payments in the Digital Age

    March 21, 2023
    cross-border payments

    Cross-Border Payments: Fighting
    E-Commerce Fraud Using Data

    March 20, 2023
    fraud, ChatGPT-4

    How to Fight Fraud While Still Enabling a Great Online Customer Experience

    March 17, 2023
    RTP

    Financial Institutions Without an RTP Strategy Risk Being Left Behind

    March 16, 2023
    visa chargeback

    New Visa Chargeback Guidelines Will Be a Game Changer

    March 15, 2023
    liquidity management

    Liquidity Management Takes on Increasing Importance in Uncertain Economic Times

    March 14, 2023
    payments

    Key Challenges from Growing Payment Methods and Volume

    March 13, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Ekata complimentary report: