Cashless payment for SMEs

Source from (The Sun Daily): http://www.mmail.com.my/story/cashless-payment-smes-32634

Published: October 09, 2012

MOL AccessPortal Sdn Bhd, a subsidiary of MOL Global Pte Ltd recently signed a joint venture with Soft Space International Sdn Bhd, to facilitate small and medium enterprises (SMEs) accept credit and debit card payments via mobile devices.

MOLCube Sdn Bhd, the new entity created from the joint-venture would enable SMEs accept payment using an iPad, iPhone, iPod Touch, Android or Windows Phone devices — anywhere at any time.

The plug-and-pay method accepts any amount of payments.

Soft Space founder Chang Chew Soon said the device would retail under RM300 and is expected to be rolled out by this year.

MOL Global chief executive officer Ganesh Kumar Bangah said the company expects to double its payment volume to RM3 billion by end of next year and RM6 billion by 2014.

“This year, MOL Global is looking to expand to Brazil, Turkey, the US and Vietnam. Next year, we will be expanding to another six countries,” he noted, adding that the company aims to expand its business to another 12 countries by year end, from the current eight.

The device developed by Soft Space, recently received EMV2 (Europay Mastercard Visa) certification, making it the first in Asia.