SoftBank, Synchronoss and TBCASoft Partner on a Proof of Concept for an RCS and Blockchain-Based Mobile Payments Service
SoftBank Corp., a Japan-based telecom carrier; Synchronoss Technologies, Inc. (SNCR), a global leader and innovator of cloud, messaging, digital and IoT products; and TBCASoft, Inc., an innovator of cross-carrier blockchain platform technology, today announced that they have partnered on a Proof of Concept (PoC) for a new cross-carrier mobile payments service based on the Rich Communications Service (RCS) global messaging standard and TBCASoft’s cross-carrier blockchain platform.
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Synchronoss has delivered in Japan, a rich and secure multi-channel 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 a cross-carrier blockchain platform called CCPS (Cross-Carrier Payment Service), which facilitates global mobile payment services among global telecommunication carriers.
The three companies have successfully completed a mobile payments service PoC that is designed to allow users to make a range of in-store, mobile and digital purchases directly from their device. A mobile customer based in Japan, for example, can travel to the USA and make a purchase in dollars via RCS which is supported by SoftBank and Synchronoss. The RCS global messaging standard can also be conveniently used to send a payment. The flexibility of the CCPS blockchain API enables the recipient to use an RCS-based messaging app or legacy messaging service 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.
Commenting on the announcement, Takeshi Fukuizumi, Vice President of Softbank Corp. said: “This RCS and blockchain based mobile payments PoC demonstrates the value operator-led services can deliver. Not only do we foresee our new mobile payment service empowering merchants to operate digitally, and at a scale that was previously only available to big brands, but it will also give our customers more flexibility when it comes to their purchasing and travelling habits.”
Also commenting on the news, Synchronoss CEO and President Glenn Lurie said: “Our PoC demonstrates how SoftBank is at the forefront in bringing to market new cutting edge technology through the use of blockchain as well as new RCS-based mobile services, which will disrupt the current messaging and payments market, creating new opportunities for customers, brands, and businesses – and which will also drive incremental revenue for operators from messaging. RCS messaging will become the foundation for a new, feature-rich marketplace for brands and merchants, both large and small, to interact with subscribers. With our expertise and global reach across multiple messaging platforms – not only RCS, but also email, IM, MMS and SMS, Synchronoss is ideally positioned to take advantage of this important new trend in mobile.”
“Increasing numbers of Communication Service Providers (CSPs) are turning to blockchain technology to support a growing range of new features and services – including secured clearing and settlement, personal authentication, and IoT applications,” said Ling Wu, Founder and CEO of TBCASoft. “In today’s digital economy, blockchain lets CSPs create new services and then extend them globally, beyond their established territories and markets, in a way that’s efficient and secure. The success of this PoC proves that our Cross-Carrier Blockchain Platform can help CSPs leverage common standards like RCS to deliver disruptive services to their customers.”
SoftBank, Synchronoss and TBCASoft will demonstrate this successful mobile payments service PoC at the Mobile World Congress Americas conference, which takes place from September 12 through 14 in Los Angeles, CA.
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About SoftBank Corp.
SoftBank Corp., a subsidiary of SoftBank Group Corp. (TOKYO:9984), provides mobile communication, fixed-line communication, and Internet connection services to consumers and corporate customers in Japan. Leveraging the innovative technologies of other SoftBank Group companies, SoftBank Corp. is also expanding into AI, smart robotics, IoT, FinTech, cloud security and other business sectors. To learn more, please visit www.SoftBank.jp/en/corp/group/sbm/.
About Synchronoss Technologies, Inc.
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. Synchronoss’ secure, scalable and groundbreaking new technologies, trusted partnerships and talented people change the way TMT customers grow their businesses. For more information, visit us at www.synchronoss.com.
About TBCASoft, Inc.
TBCASoft is a U.S.-based company developing innovative blockchain technology specifically for telecommunication carriers. Its consortium-based blockchain platform enables telecommunication carriers to create innovative services for their subscribers under a more secure, robust, and efficient environment. TBCASoft is located in Sunnyvale, California, the center of Silicon Valley. To learn more, please visit TBCASoft at www.tbcasoft.com.
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