Hi-Tech

Japan’s SoftBank, Synchronoss, TBCASoft Succeeded in PoC Trial for Mobile Payments Solution

Japan’s SoftBank, Synchronoss, TBCASoft Succeeded in PoC Trial for Mobile Payments Solution

Notably, the partnership with Synchronoss allows the platform to benefit from the Rich Communication Service protocol, an alternative to SMS popularised by Synchronoss in Japan. This new platform will enable users to do peer-to-peer money transfers all over the world.

Japan-based telecom and internet company SoftBank Corp together with Synchronoss Technologies Inc and TBCASoft Inc has completed a proof-of-concept (POC) project of cross-carrier mobile payment services.

"This RCS and blockchain based mobile payments PoC demonstrates the value operator-led services can deliver", said Softbank's Vice President, Takeshi Fukuizumi.

The upcoming mobile payment service will be based on the Rich Communication Services (RCS) global messaging standard and TBCASoft's cross-carrier blockchain platform.

"A mobile customer based in Japan, for example, can travel to the U.S. and make a purchase in dollars via RCS which is supported by SoftBank and Synchronoss", the companies said.

Softbank explains that using a distributed network, users can send funds stored in their digital wallets in the RCS system from one carrier to another in a fashion similar to peer-to-peer transactions, a useful feature to have, especially when traveling.




The payment service dubbed, Cross-Carrier Payment Service (CCPS) blockchain API enables the users to receive person-to-person money through the RCS app in either currency, according to a statement released by the company.

Fukuizumi added the company hopes that the new mobile payment service will give its customers more opportunities when it comes to their spending and traveling habits.

While commenting on the P2P payment PoC, Ling Wu the Founder and CEO of TBCASoft noted that a large number of Communication Service Providers (CSPs) are turning to blockchain technology to support a growing range of new features and services such as secured clearing and settlement, personal authentication, and IoT applications.

The group's effort comes a year after the three firms, along with several major global carriers, formed a Blockchain Study Group. Sychronoss Technologies is an global creator of cloud, digital, IoT, and messaging products.

Synchronoss (NASDAQ:SNCR) transforms the way companies create new revenue, reduce costs and delight their subscribers with cloud, messaging, digital and IoT products and platforms supporting hundreds of millions of subscribers across the globe. For more information, visit us at www.synchronoss.com. (SNCR), an American firm that provides secure, white label, mobile cloud, RCS messaging and digital solutions, and TBCASoft Inc., a USA -based blockchain startup.


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