Softmotions Blog

Moneyspace is more than just a Payment System

Sunday. Early in the morning. The first sun rays penetrate through the window. However, you are waking up for another reason. You hear how the distant phone ringing is approaching and getting louder. You answer the phone and hear the CEO shouting in your ear "MAYDAY! MAYDAY." "What's the matter?" you ask and realize that today you not gonna rest or have a day off, today you gonna solve some urgent problems as the banking system has gone down and it is more upsetting that this is not your fault meaning you have to fix bugs after other developers who worked on the project before. "And why do troubles always find you on weekends? There are seven days, but they do it exceptionally on weekends," you think and start putting on your clothes. When this happens, individual merchants and organizations can neither receive nor make payments, and that’s not good. The reasons are different and usually there is a whole list of them: bugs, dirty code, problems with updating, and others. This is how we came across the CEO of Money Space. Everything started with a small task that finally has ended up with long-term and greater cooperation. After the task was done well, other tasks followed such as cleaning the code, removing old frameworks, adding new features, developing integrations with new banks, etc.

How Covid-19 has changed our life

The Covid-19 outbreak has left customers around the world no choice but to shop from their homes. Shoppers are forced to buy everything from everyday goods and groceries to fresh food, clothing, accessories, and electronics. With the growing trend of people moving to online platforms, digital online payment platforms have become critical for business sustainability. The demand for online financial solutions platforms has skyrocketed, and this trend is expected to spread globally for the foreseeable future.

Serving people for the prosperity of the nation Convenient digital financial services solutions don’t come overnight, and making customers happy by going beyond the standard offering, adding value beyond transactional opportunities for the community, is a goal that many payment systems are trying to achieve.

Why Money Space?

There are a lot of payment systems but not all of them can meet the needs of local markets, especially in terms of saving money or providing a variety of payment channels in the online world. That is why individual business entities require custom-made solutions to satisfy specific needs. Among others, they are Lowest service fees on the market (enabling better competitiveness); Ability to set up adjustable fees for businesses; Merchants are able to choose a bank to work with (depending on credibility or commission fees); Clients can choose different installment plans or instantly pay for purchases.

What makes the Thai market different

Due to Thailand’s lazy economy and the global pandemic, most of Thailand’s residents are constantly switching to digital payment platforms. In some parts of the world, this transition was easier, but the Thai market behaved differently. Some have found it difficult to convert people who deeply distrust online platforms due to scams and frauds, while others find it difficult to use technology due to lack of convenience. Money Space took note of the opportunities that digital payment options provide around the world and found the limitations of these solutions in Thailand. Looking into reality, they realized that they have a great responsibility, and directed all their efforts and commitments to serve society. After finding a reliable partner, with our best efforts and dedication, together we have created a user-friendly and diverse online payment solution that enables people to exercise their rights and improve their financial well-being and is easy to use and user-friendly. Now every person in Thai society has the opportunity to fully participate in the global economy.

What Features have been Implemented?

— ONLINE PAYMENT GATEWAY By just calling API for the payment gateway, an online seller website will be capable of receiving online payments through credit cards. The platform service supports over 27 foreign currencies and enables companies to reach customers across the globe.

— PAYMENT LINKS Merchants can accept online credit card payments from customers even if the merchants do not have a website for selling products or services. These payments can be made due to a payment link to be created and sent directly to the customers through various global social media channels.

— OFFLINE PAYMENTS If customers want to pay for products or services with a credit card, they can make a payment through their banking institution or ATM across the country anytime, 24/7. (Needless to say, quality is more important than quantity so at first our team consisting of 2 senior developers effectively dealt with all set tasks. Now the size of the team has increased up to 7 as the number of tasks has increased as well. To effectively solve the problems that have arisen, in addition to high technical expertise, prompt and good communication has always been one of the main skills and advantages.)

The bottom line

Now we can sleep like a little baby on weekends knowing the banking system is working as it should. So if you are tired of wasting your time and money and looking for a trustworthy companion/digital studio to fix or develop a payment system from scratch, feel free to contact Softmotions. We are here to take care of your business affairs!