SoftBank, Synchronoss, TBCASoft launch RCS, Blockchain-based m-payments service

Donna Miller
September 14, 2018

Notably, the partnership with Synchronoss allows the platform to benefit from the Rich Communication Service protocol, an alternative to SMS popularised by Synchronoss in Japan.

Rich Communication Services and the cross-carrier blockchain powered platform of TBCASoft will form the basis of this new mobile payment service.

RCS, a global messaging standard, can be understood as the next generation of text messaging, as TechCrunch explains.

The combined mobile payment service will allow users to make in-store and mobile and digital purchases in addition to processing global peer-to-peer money transfers.

Commenting on the innovative payment service app, the vice president of Softbank Corp "Takeshi Fukuizumi" said that the app would empower the merchants to transact in digital money in a way similar to the one that has for always been enjoyed by the big brands. A customer can travel from Japan to the U.S and make a purchase in dollars with RCS, supported by Synchronos and SoftBank.

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. In addition to that the RCD messaging standard will also be used to do transactions. The beauty about the entire platform is that the CCPS blockchain, REC messaging app, as well as linked emails, are interlinked to enable the P2P money transfers.

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"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 traveling habits".

Ling Wu, TBCASoft CEO mentioned in a statement that, "A large number of Communication Service Providers (CSPs) are adopting the blockchain technology to add new features and services to their portfolio".

SoftBank Corp is a Japanese telecom carrier firm.

The former provides services on Internet of Things [IoT], messaging, cloud and is a digital platform, as well. The service will facilitate the users to carry out peer to peer worldwide transfer of money. To learn more, please visit www.SoftBank.jp/en/corp/group/sbm/. The funds are tracked and recorded on the blockchain-based platform.

The announcement comes just a year after Softbank set up the Carrier Blockchain Study Group, a project established to look at technologies for facilitating payments across carriers on the blockchain. TBCASoft is located in Sunnyvale, California, the center of Silicon Valley.

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