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Fasspay, UOB Malaysia join forces to offer cashless payment solutions for delivery riders

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Azunta Gaviola

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2 months ago

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Kuala Lumpur, Malaysia – Aiming to offer advanced payment solutions to delivery riders across the country, financial services company Fass Payment Solutions has recently launched a strategic partnership with UOB Malaysia. 

This collaboration offers J&T Express riders the opportunity to use their smartphones as point-of-sale (POS) terminals, enabling them to accept contactless debit card payments during last-mile deliveries. 

Leveraging Fasstap, the said initiative also marks the debut of Malaysia’s first tap-on-phone payment acceptance system within the logistics sector. It also enables any NFC-enabled device running on Android or Harmony OS to function as a POS terminal. 

For instance, J&T Express, through this collaboration, can now provide customers with a more convenient and timely digital payment option. This system enhances efficiency by simplifying the payment process and reducing reliance on the traditional cash-based model.

With UOB Malaysia serving as the settlement bank, it further facilitates the flow of fund transfers between parties using Fasspay’s proprietary app, Fasstap. This enables J&T Express riders to accept payments via customers’ debit cards with a simple tap on their smartphones, improving the efficiency of the payment process and enhancing the overall delivery experience. 

Payments are also credited to J&T Express’ UOB account, and riders receive immediate credit notifications upon successful transactions.

Lucas Chew, executive director and country head of transaction banking at UOB Malaysia, said, “UOB’s commitment to driving digital innovation and facilitating business growth within ASEAN and beyond is what drives such first-in-market payment solutions. This collaboration and cash management solution customised to the needs of J&T Express and Fasspay not only provides convenience to J&T Express’ customers but also addresses the key pain point in the logistics industry. We look forward to working with other clients to develop new payment and cash management methods.”

Chris Leong, chief strategy officer of Soft Space and chief executive officer at Fasspay, also commented, “Recent studies show that seven out of ten Malaysian consumers are now actively using contactless cards. We want to further empower this trend by increasing the number of contactless payment points, especially in previously cost-ineffective areas. Our goal is to eliminate the costs and risks associated with cash handling, which could lead to significant savings for the last mile cash on parcel delivery segment, and also enable J&T Express to efficiently secure the funds immediately after payment is made.

“We are delighted that with Fasstap™, drivers can use their own phones to accept contactless payments. We are proud to collaborate with dynamic partners like J&T Express and UOB Malaysia to fulfil the vision of improving the logistic cashless ecosystem together, starting from Malaysia and expanding to ASEAN in the future,” added Chris. 

Meanwhile, Vincent Low, assistant chief executive officer at J&T Express, said, “As a result of this collaboration between us, UOB Malaysia and Fasspay, we have the honour to be the first courier company to launch the cashless payment solution in Malaysia. This initiative will not only enhance operational efficiency but also promote environmental sustainability.”

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