GMO Internet Group
Basic agreement regarding investment contract with Soft Space [GMO Financial Gate]
Accelerating terminalless payment service “Fasstap”
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GMO Financial Gate, Inc. (hereinafter referred to as GMO-FG), a consolidated company of GMO Internet Group’s GMO Payment Gateway, Inc., which operates face-to-face credit card and other payment businesses, provides payment services in Asia. We would like to inform you that we have reached a basic agreement to conclude an investment agreement through convertible bonds (*1) with Malaysian fintech company Soft Space (Headquarters: Kuala Lumpur, CEO: Joel Tay, hereinafter referred to as Soft Space).
[Image 1: https://prtimes.jp/i/136/4342/resize/d136-4342-2ec3a80b314fcc4017c5-0.jpg&s3=136-4342-6dd33e66772bdd6cf2c54525090e72f4-858×600.jpg] (From left in the photo: Mr. Sugiyama and Mr. Tay)
Through the conclusion of this agreement, which will be implemented in the future based on the basic agreement, both companies will leverage their unique strengths to promote common efforts to promote the spread of contactless and cashless payments. GMO-FG will provide its customers with “Fasstap” (*2), Soft Space’s innovative terminal-less payment service. Soft Space aims to utilize GMO-FG’s customer base to promote cashless payments in a wide range of fields, including public transportation, accommodation facilities, and restaurants.
(*1) A convertible bond is a bond that has the right to convert the invested amount into shares if a certain predetermined trigger clause is violated. The trigger clause for this transaction is scheduled to be Series C financing by Soft Space.
(*2) A payment service provided by Soft Space that does not require a payment terminal and can support NFC touch payments by simply installing a dedicated application on a commercially available tablet or smartphone.
■Comment from Soft Space CEO Joel Tay
The conclusion of this agreement will further strengthen the relationship between GMO-FG and Soft Space, accelerating Soft Space’s business foundation and the promotion of contactless payments in the Japanese market. The funds raised will be used to strengthen our payment platform and increase our presence in Japan, allowing our payment services to be adopted in a variety of retail formats. Together with GMO-FG, we will move forward towards realizing a cashless society in Japan.
■Comment from Kentaro Sugiyama, President and CEO of GMO Financial Gate, Inc. Since our collaboration with Soft Space began in 2018, we have built a close relationship through the collaboration between Soft Space’s terminal-less payment service “Fasstap” and GMO-FG’s payment network. By signing this agreement, we will further accelerate the cooperative relationship between the two companies and contribute to the growth of Japan’s face-to-face cashless payment market.
The partnership between GMO-FG and Soft Space is a commitment to the common goal of promoting a cashless society in Japan.
[About GMO Financial Gate, Inc.] (URL: https://gmo-fg.com/)
GMO-FG has built a track record and trust over the past 24 years since its founding in July 1999 as a payment agency that focuses on credit and debit payments at face-to-face stores. As a shared use center that accepts IC cards, we are working on innovation in the industry with economic rationality and technological advancement. In addition to stationary and mobile CCT terminals (shared use terminals), we also provide built-in payment services for automatic payment machines for hospitals and golf courses, and we will continue to contribute to society as a change leader for cashless payments. Masu.
[About Soft Space]
Founded in 2012, Soft Space is a fintech company based in Kuala Lumpur, Malaysia. Serving more than 90 financial institutions and partners in more than 30 global markets, we offer a wide range of solutions, including contactless payments through mobile devices and e-wallet services available on a white label basis. By leveraging these technologies, credit card companies and financial institutions can popularize digital payments and deepen their understanding of customer demand. Soft Space is committed to leveraging its mobile contactless payment expertise and patented technology to revolutionize card payments worldwide.
For more information about Soft Space, please see below.
https://www.softspace.com.my/
[Image 2: https://prtimes.jp/i/136/4342/resize/d136-4342-7429e71b46e175639863-1.png&s3=136-4342-c9bc2af786b06204a98715a30244c7bb-1920×1080.png ]
that’s all
[GMO Financial Gate, Inc.] (URL: https://gmo-fg.com/)
Company name: GMO Financial Gate, Inc. (TSE Growth Market, stock code: 4051) Address: 6th floor, Humax Shibuya Building, 1-14-6 Dogenzaka, Shibuya-ku, Tokyo Representative: Kentaro Sugiyama, President and Representative Director Business details ■Payment processing service business for credit, debit, UnionPay cards, etc.
Capital: 1,638 million yen
[GMO Payment Gateway, Inc.] (URL: https://www.gmo-pg.com/)
Company name: GMO Payment Gateway, Inc. (TSE Prime Market, stock code: 3769) Address: Shibuya Fukuras, 1-2-3 Dogenzaka, Shibuya-ku, Tokyo Representative: Kazunari Aiura, President and CEO
Business details ■ Comprehensive payment-related services and financial-related services
Capital: 13,323 million yen
[GMO Internet Group, Inc.] (URL: https://www.gmo.jp/)
Company name: GMO Internet Group, Inc. (TSE Prime Market Securities code: 9449) Address: Cerulean Tower, 26-1 Sakuragaoka-cho, Shibuya-ku, Tokyo Representative: Representative Director and Group Representative: Masatoshi Kumagai
Business details ■Internet infrastructure business
■Internet advertising/media business
■Internet financial business
■Crypto asset business
Capital: 5 billion yen
Copyright (C) 2024 GMO Financial Gate, Inc. All Rights Reserved. More details about this release:
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