SoftBank Corp Reveals It Is Creating A Mobile Payments Service

SoftBank Corp Reveals It Is Creating A Mobile Payments Service

Softbank said on Wednesday the technology was developed in partnership with blockchain startup TBCASoft, as well as Synchronoss, a Nasdaq-listed firm that delivered a SMS-replacement communications protocol called Rich Communication Service (RCS) in Japan. He explained that SoftBank is at the forefront of bringing to market new cutting edge technology. They have successfully completed the PoC that will enable users to make a range of in-store, mobile and digital purchases directly from their device.

The group's effort comes a year after the three firms, along with several major global carriers, formed a Blockchain Study Group. (SNCR), an American firm that provides secure, white label, mobile cloud, RCS messaging and digital solutions, and TBCASoft Inc., a US -based blockchain startup. (TOKYO:9984), provides mobile communication, fixed-line communication, and Internet connection services to consumers and corporate customers in Japan. Here, the role played by Synchronoss is providing a platform that support communications in multi channels that ends up combining email, RCS and text messages.

A trio of Japanese corporations have devised a working proof-of-concept (PoC) underpinned by blockchain that allows users to make peer-to-peer payments from their mobile phones. Sychronoss Technologies is an worldwide creator of cloud, digital, IoT, and messaging products.

Through the RCS standard, one can send a payment. TBCASoft is a developer of cross-carrier platforms driven by blockchain technology. The flexibility of the CCPS blockchain API enables the recipient to use an RCS-based messaging app or legacy messaging services like SMS or mobile email, to receive person-to-person (P2P) money transfers through the RCS wallet app either in the same country or overseas. 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.

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SoftBank further explained that global purchases made can be done directly through an RCS-based messaging app, similar to a text message or email.

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

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.

"RCS messaging will become the foundation for a new, feature-rich marketplace for brands and merchants, both large and small, to interact with subscribers", Lurie continued.

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