MOL AccessPortal Sdn. Bhd., Asia’s leading e-payment service provider and a subsidiary of MOL Global Pte Ltd signed a joint venture agreement with Soft Space International Sdn. Bhd. to establish MOLCube Sdn. Bhd., a mobile payment acquiring company that will focus on enabling small and medium-sized businesses to accept credit and debit card payments using mobile devices.

Under the agreement, the newly established company intends to become a Third Party Acquirer (TPA) that will further promote a cashless society by enabling more merchants to accept cashless transactions using the mobile phone, tablets and other such IP-Based smart devices using Soft Space’s EMV Level 2 compliant technology. Softspace is one of three companies in the world that has been certified by EMVCo to perfom credit and debit card processing on smart devices with such a certification.

The collaboration will further strengthen the companies’ objectives to provide safe and secure mobile payment transaction for corporations and individuals to accept credit cards through their mobile phones by swiping the card on the MOLCube card reader device.

At the signing ceremony, MOL AccessPortal was represented by Ganesh, while Soft Space’s founder Chang Chew Soon signed on behalf of Soft Space. The significant event was witnessed by Tan Sri Dato’ Seri Vincent Tan, the founder of Berjaya and Datuk Vincent Lee, the Executive Chairman of Feotus International Sdn. Bhd.

The MOLCube chip card reader can be integrated to iPhone, iPad, and iPod Touch. It will also be compatible with Android and Windows Devices and will be launched in the current quarter.