Japanese SoftBank announces its future blockchain-based mobile payment service

Softbank Completes Blockchain PoC for Cross-Carrier Mobile Payments

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.

The combined mobile payment service will allow users to make in-store and mobile and digital purchases in addition to processing global peer-to-peer money transfers. The two companies have built a cross-carrier blockchain system known as Cross-Carrier Payment Service (CCPS), which accelerates global mobile payments among telecom carriers. However, Glenn Lurie, the president and CEO of Synchronoss has stated that the new mobile service based on blockchain technology will "disrupt the current messaging and payments market". The system will be based on the worldwide messaging standard, Rich Communication Services (RCS). For example, Japan-based users can travel to the USA and make payments with dollars during their stay there.

The announcement states that the partners jointly developed the blockchain-based PoC, which is integrated with RCS, using a distributed network deployed across several mobile carriers.

SoftBank's new proof-of-concept (PoC) development was announced in partnership with telecoms-focused blockchain firm TBCASoft and Synchronoss Technologies, provider of cloud, messaging, digital, and Internet of Things (IoT) services and platforms.


SoftBank's Vice President, Takeshi Fukuizumi feels that the pilot project shows the value that operator-led services can offer.

SoftBank Corp., a subsidiary of SoftBank Group Corp.

The CCPS blockchain API enables a recipient to use legacy messaging services such as mobile email or SMS for receiving P2P money transfers via the RCS app, whether in the same country or from overseas. It is utilized for worldwide mobile payment services across global telecommunications carriers. "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 travelling habits", Fukuizumi said. Through the platform, people will also be able to carry out direct purchases through the Rich Communications Service (RCS) wallet which is an app being developed by Softbank or even though email.

Meanwhile, Sychronoss' CEO was optimistic that RCS messaging will be the new backbone of the marketplace for merchants and brands. Sychronoss Technologies is an worldwide creator of cloud, digital, IoT, and messaging products. TBCASoft is located in Sunnyvale, California, the center of Silicon Valley.

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