SoftBank completes blockchain PoC for cross-border mobile payments

Softbank Completes Blockchain PoC for Cross-Carrier Mobile Payments

TBCASoft, an innovator of cross-carrier blockchain platform technology, has reportedly been working with SoftBank to develop the Cross-Carrier Payment Service that is meant to facilitate payments from anywhere in the world and work with any service provider.

Softbank has partnered with startup TBCASoft and Nasdaq-listed SMS services provider, Synchronoss, to build a blockchain proof-of-concept (PoC) for peer-to-peer mobile phone payments via different carriers.

According to the official release, Synchronoss has launched a rich and secure multi-channel communications platform in Japan earlier this year, which covers SMS, email and RCS.

"The three companies have successfully completed a mobile payments service PoC that is created to allow users to make a range of in-store, mobile and digital purchases directly from their device", notes a press release issued by Softbank Corp. The post explained that a mobile customer in Japan can travel to the United States and buy dollars via RCS which is supported by SoftBank and Synchronoss. The messaging system makes easy to send payments and - in turn - for recipients to receive person-to-person (P2P) money transfers through the app-which is especially useful for those traveling overseas. The CCPS blockchain API allows the user to apply an RCS-based messaging app or legacy messaging service such as email or SMS to receive money transfers through via the RCS wallet app.

Commenting on the innovative payment service app, the vice president of Softbank Corp "Takeshi Fukuizumi" said that the app would empower the merchants to transact in digital money in a way similar to the one that has for always been enjoyed by the big brands. The newly developed payment services app is being demonstrated at the Mobile World Congress Americas conference in Los Angeles from September 12 to 14. It is one of its kinds of payment services platform which is based on the Rich Communication Services (RCS) and TBCASoft's cross-carrier blockchain platform.

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SoftBank Corp is a Japanese telecom carrier firm. Leveraging the innovative technologies of other SoftBank Group companies, SoftBank Corp.is also expanding into AI, smart robotics, IoT, FinTech, cloud security and other business sectors.

Synchronoss president and CEO, Glenn Lurie, said that the PoC will "disrupt the current messaging and payments market" as well as create ample opportunities for customers, brands and businesses alike. For more information, visit us at www.synchronoss.com.

Specifically it is TBCASoft that brings blockchain to the party in this partnership, with its experience in cross-carrier blockchain systems.

Users of the new blockchain platform will not have to change their money at a bank when traveling internationally.

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