HONG KONG SAR - Media OutReach^[1] - 11 March 2021 - SoePay^[2], a FinTech subsidiary of Spectra Technologies Holdings Co. Ltd., today announced the launch of the SoftPOS solution for accepting contactless Visa and Mastercard card payments on any NFC-enabled Android smartphones that will revolutionize the customer experience of small and micro-merchants in Hong Kong.

SoePay SoftPOS is a mobile payment solution that eliminates POS and payment terminal rental and provides an affordable and secure way for small and micro-merchants to accept contactless card payments on their mobile devices. This is a significant step in mobile payment acceptance for Hong Kong. By transforming mobile devices into payment terminals, SoePay SoftPOS enables merchants to securely accept card payment in many situations such as events, markets, and food delivery. SoePay SoftPOS solution is globally certified by Payment Card Industry (PCI) CPoC to accept contactless payments from cards and smart devices without requiring additional hardware.

Established in 2019, SoePay is a payment solution provider and payment facilitator in Hong Kong. Our mission is to provide customers with innovative, secure, reliable, affordable, and hassle-free payment solutions. For more information about our product, visit https://soepay.com/en/softpos^[3]

Damien Chow, Director of Digital Payment, SoePay: "SoftPOS is a key strategic initiative of SoePay to make payment acceptance affordable, frictionless and hassle-free to our customers. We look forward to enhancing our SoftPOS solution and accelerating the contactless adoption and digital payment development in Hong Kong."

Helena Chen, Managing Director, Hong Kong and Macau, Mastercard: "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. The Mastercard Sonic feature is also applied to SoePay, which accompanies payments with a sound that indicates cardholders' successfully made payment. The new partnership is in line with Mastercard's ongoing commitment to promote contactless payment across the city and to support local SMEs' future development through digitalization."

Maaike Steinebach, General Manager, Visa Hong Kong and Macau: "Visa is excited to partner with SoePay to enable off-the-shelf 'Tap to Phone' mobile devices to accept contactless payments without additional hardware in Hong Kong. More than seven in ten of all face-to-face Visa transactions are contactless. This new low-cost and simple solution will help micro, small and medium-sized businesses stay competitive on their digital transformation journeys."

References

1. ^{^} Media OutReach (www.media-outreach.com)
2. ^{^} SoePay (soepay.com)
3. ^{^} https://soepay.com/en/softpos (soepay.com)