Asian fintech Soft Space and GMO Financial Gate have partnered to introduce a card payment solution that supports cashless acceptance in the Japanese market without the need of a payment device, according to a press release.

Through this partnership, Soft Space will support secure and seamless Europay, Mastercard and Visa (EMV) transactions and introduce its suite of payment solutions into various industry segments in Japan. These payment solutions will capitalize on smart devices to perform cashless card transactions. Merchants and partners that adopt these payment solutions will be able to securely transact and lower operation costs.

"Soft Space is grateful to be part of the initiative to advance Japan's payment scene through our partnership with GMO-FG," Joel Tay, chief executive officer of Soft Space said in the release. "Japan has been pushing cashless acceptance, particularly contactless payments, and this collaboration will enable us to expand and establish our presence across Japan and give options to a variety of sectors to adopt our payment solutions."

With Japan goal of doubling the country's cashless ratio to 40% by the year 2025, Soft Space's engagement with GMO-FG will be essential to achieving this goal.

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