Japanese telecoms firm Softbank, Synchronoss Technologies and TBCASoft, the innovator of cross-carrier blockchain technologies, have collaborated on a Proof of Concept for a cross-carrier mobile payment service.
The three firms designed the platform to allow users to make same-country or overseas in-store, mobile and digital purchases from their device.
What this means is a customer based in Japan can use dollars to make mobile purchases in the USA.
How does this work?
The system called the CCPS (Cross-Carrier Payment Service) uses TBCASoft’s cross-carrier blockchain platform. This service allows customers to use RCS or normal SMS text messages to make overseas payments to their telecoms provider.
The Rich Communication Services protocol (RCS) is hoped to be the next evolution of SMS.
This system has been in the works for some time. In Japan, Sychronoss developed and launched a secure communications platform that covers RCS, SMS, and email. Meanwhile, TBCASoft and Softbank, under the Carrier Blockchain Study Group (CBSG), were working to deliver the CCPS.
Takeshi Fukuizumi, Vice President of Softbank, said: “This RCS and blockchain based mobile payments PoC demonstrates the value operator-led services can deliver. Not only do we foresee our new mobile payment service empowering merchants to operate digitally, and at a scale that was previously only available to big brands, but it will also give our customers more flexibility when it comes to their purchasing and traveling habits.”
“Our PoC demonstrates how SoftBank is at the forefront in bringing to market new cutting-edge technology through the use of blockchain as well as new RCS-based mobile services, which will disrupt the current messaging and payments market, creating new opportunities for customers, brands, and businesses,” added Synchronoss CEO and President Glenn Lurie said.
Ling Wu, Founder, and CEO of TBCASoft also commented: “The success of this PoC proves that our Cross-Carrier Blockchain Platform can help CSPs leverage common standards like RCS to deliver disruptive services to their customers.”
SoftBank, Synchronoss, and TBCASoft will demonstrate their new system at the Mobile World Congress Americas conference In LA.