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Rizal Commercial Banking Corporation (RCBC) has partnered with Soft Space, a Fintech-as-a-Service (FaaS) provider, to introduce RCBC Tap-to-Phone. This SoftPOS solution helps micro, small, and medium enterprises (MSMEs) accept digital payments
SoftPOS technology enables NFC-enabled smartphones to function as payment terminals, allowing merchants to process Mastercard and Visa transactions—whether credit, debit, or prepaid—using Android devices. The system generates a QR code as an electronic receipt for each transaction.
Other than that, users can enjoy fast settlement, with funds credited to their account as early as the next banking day. RCBC also highlights that you can now stay organised with the Merchant Portal, a platform that allows you to monitor transactions and access reports easily.
Arniel Vincent Ong
RCBC Credit Cards President and CEO Arniel Vincent B. Ong stated, “We believe in partnerships that drive progress and remain committed to providing Filipino MSMEs with cost-effective and accessible digital payment solutions throughout the Philippines.”
The RCBC Tap-to-Phone feature is powered by Fasstap™, a SoftPOS solution developed by Soft Space that supports multiple mobile operating systems and card networks. It has applications in various industries, including finance, logistics, transportation, and food services.
Joel Tay
Soft Space CEO Joel Tay highlighted the potential impact of this initiative. He said that close to 99% of all businesses in the Philippines—over 1.2 million—are MSMEs. Joel mentioned that they are excited about the transformative impact that their partnership with RCBC can have.
He added that both organisations aim to support small and medium businesses. They will do this by working together under SMBC’s investment umbrella and leveraging their combined strengths.
