Fintech SoePay launches contactless payment app SoftPOS

This payment solution is designed for small and micro-merchants

Fintech company SoePay, a subsidiary of Spectra Technologies Holdings Co. Ltd., has launched the SoftPOS solution, in partnership with Visa and Mastercard.

The mobile payment solution SoftPOS eliminates point-of-sale and payment terminal rental, proving an affordable way for small and micro-merchant to accept payment. It can be used by Android smartphones with near field communication technology.

"SoftPOS is a key strategic initiative of SoePay to make payment acceptance affordable, frictionless and hassle-free to our customers,” said Damien Chow, SoePay director of digital payment.

“We look forward to enhancing our SoftPOS solution and accelerating the contactless adoption and digital payment development in Hong Kong," he added.

SoePay is a payment solution provider and payment facilitator in Hong Kong, established in 2019.

Both Mastercard and Visa welcomed the launch of the new app as it complements their “Tap on Phone” acceptance network as well as efforts to assist local micro, small and medium enterprises.

“Mastercard is thrilled to join forces with 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 meet consumers' everyday needs,” said Helena Chen, managing director of Mastercard in Hong Kong and Macau.

She added SoePay applied the Mastercard Sonic feature that notifies cardholders with a sound to confirm their payments were successful.

For Maaike Steineback, Visa Hong Kong and Macau general manager, said the SoftPOS will help small businesses stay competitive.

“This new low-cost and simple solution will help micro, small and medium-sized businesses stay competitive on their digital transformation journeys," she said, noting that presently seven out of ten of all face-to-face Visa transactions are contactless.