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Japanese telecom carrier Softbank, U.S.-based blockchain firm TBCASoft, and Synchronoss Technologies, a provider of cloud, messaging, digital and IoT products, have teamed up on a Proof of Concept (PoC) for a Rich Communications Service (RCS) and blockchain-based mobile payments service.
RCS, a global messaging standard, can be understood as the next generation of text messaging, as TechCrunch explains. It aims to eventually replace SMS messages. For RCS, users would need their carrier to support it, their device to support it, and a compatible app, according to GreenBot.
According to the official release, Synchronoss has launched a rich and secure multi-channel communications platform in Japan earlier this year, which covers SMS, email and RCS.
TBCASoft and SoftBank are the founding members of the Carrier Blockchain Study Group (CBSG) – an initiative launched in September 2017 that aims to build a next-generation global cross-carrier blockchain platform and ecosystem. They have been working together 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 partnered on a PoC for a new cross-carrier mobile payments service based on RCS and TBCASoft’s cross-carrier blockchain platform. 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. For example, a mobile customer based in Japan can travel to the U.S. 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 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.
“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,” Takeshi Fukuizumi, Vice President of Softbank Corp. said.
