SoftBank trials blockchain-based mobile payments
SoftBank, Synchronoss Technologies and TBCASoft have unveiled a proof of concept (PoC) for a blockchain-based mobile payments service.
The service is based on the rich communications service (RCS) global messaging standard and TBCASoft’s cross-carrier blockchain platform.
Takeshi Fukuizumi, VP of Softbank, says it will give its customers “more flexibility when it comes to their purchasing and travelling habits”.
Synchronoss has delivered in Japan a communications platform, which covers SMS, email and RCS. The platform launched earlier this year.
TBCASoft has been working with SoftBank, under the Carrier Blockchain Study Group (CBSG) Consortium, to deliver the platform called CCPS (Cross-Carrier Payment Service), which helps mobile payment services among telecommunication carriers.
The three companies have completed the PoC that is designed to allow users to make in-store, mobile and digital purchases from their device.
For example, a mobile customer based in Japan can travel to the US and make a purchase in dollars via RCS which is supported by SoftBank and Synchronoss. The RCS messaging standard can also be used to send a payment.
Prior to this PoC, SoftBank had shown an interest in another area of the payments market.
In July, the bank, Yahoo Japan and India’s Paytm ganged up to unveil PayPay – a smartphone payment service using barcodes that’s coming in autumn this year.
This followed on from April, when SoftBank invested $400 million in Paytm.