mobile blockchain payment
TBCASoft, IBM, and SoftBank Announce a Mobile Payment Blockchain
October 23, 2019
mobile blockchain payment
TBCASoft, IBM, and SoftBank Announce a Mobile Payment Blockchain
October 23, 2019

TBCASoft a blockchain platform, IBM and telecommunications conglomerate SoftBank is collaborating to adopt a cross-carrier telecommunications blockchain payment solution.

The announcement was made on Oct. 22, where the partnership will enable carriers to use blockchain through the Carrier Blockchain Study Group (CBSG) Consortium.

A New Cross-Carrier System

The blockchain platform, TBCASoft reportedly created a cross-carrier blockchain platform with 18 participants.

CBSG intends to launch Cross-Carrier Payment System (CCPS), its first application. It aims to enable mobile service users to use their phones for payments with the local merchants abroad.

Founder and CEO of TBCASoft Ling Wu commented:

“As the global pioneer of cross-carrier blockchain solutions, we have been working closely with leading telecommunication carriers in the past 3 years under the CBSG Consortium to drive adoption of the CCPS platform. […] We believe that this collaboration will bring greater combined values to our customers, partners, and the telecommunication industry.”

Cross Carrier Payment System (CCPS) reportedly will allow for interoperability across different telecom carriers. It will help in establishing a network of merchants that will be accessible to mobile service customers.

ALSO READ :  Samsung SDS Pilots Blockchain-Based Medical Insurance Network

Softbank will be the first carrier in adopting CCPS while aiming to launch the payment system in Tokyo in 2020.

More Partnerships

IBM will reportedly be working with 80% of the world’s telecommunication carriers in supporting to scale the ecosystem. The blockchain platform TBCASoft intends to use IBM’s blockchain platform to offer open technology while supporting multiple cloud environments.

Vice President & Partner for Blockchain, IBM Telecommunications Services Utpal Mangla commented:

“Leveraging a telecommunications blockchain network that can enable improved cross-carrier relations, cross carrier payment can help transform the way telecom carriers transact with partners and customers to deliver innovative payment solutions.”

Cryptonewspoint recently reported that Samsung Pay has an international remittance feature, utilizing a platform owned by Finablr, a London-listed Ripple partner to offer cross-border payments feature Money Transfer to users of its app.


Source: businesswire.com | Image: coinidol.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!