Softbank, Synchronoss and TBCASoft partner on blockchain-based mobile payments service

Softbank Completes Blockchain PoC for Cross-Carrier Mobile Payments

Developed in partnership with a Californian blockchain technology startup TBCASoft and a multi-channel transaction management solutions provider Synchronoss, the service will let users to conduct in-store and digital purchases via mobile devices.

Japanese telecoms giant Softbank Corp. has completed a blockchain proof-of-concept (PoC) that allows P2P mobile payments across different carriers. The platform is now being demonstrated at the Mobile Web Congress Americas conference that is taking place in Los Angeles, California, between September 12 and 14. (SNCR), an American firm that provides secure, white label, mobile cloud, RCS messaging and digital solutions, and TBCASoft Inc., a USA -based blockchain startup. When implemented, it will facilitate mobile payment services amongst global telecommunication carriers and is expected to replace the traditional SMS text messaging system with a richer pool of features, such as sending multimedia content, documents and voices calls via carrier networks instead of mobile apps. For instance, a Japanese client of a mobile carrier can travel to the U.S. and make a purchase in United States dollars based on the RCS system provided by SoftBank and Synchronoss, the companies explained. TBCASoft is a developer of cross-carrier platforms driven by blockchain technology.

SoftBank's Vice President, Takeshi Fukuizumi feels that the pilot project shows the value that operator-led services can offer. The activity involved the partnering firms jointly creating the blockchain-based PoC, which integrates RCS with a distributed blockchain-based network deployed across multiple telecom carriers. The system also supports the use of application programming interfaces (APIs) that enable the payment recipient to use an RCS-based messaging app or even the traditional SMS or email, to receive P2P money transfers through the RCS wallet app either in the same country or 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. In association with blockchain, it planned to build this RCS among mobile carriers.

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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.

Meanwhile, Sychronoss' CEO was optimistic that RCS messaging will be the new backbone of the marketplace for merchants and brands. TBCASoft is located in Sunnyvale, California, the center of Silicon Valley.

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