Telecom companies complete cross-carrier mobile payments using blockchain
Thu, 20 Feb 2020, 14:15 pm UTC
The Carrier Blockchain Study Group (CBSG), a global blockchain consortium of telecom carriers, has announced that Taiwan-based Asia Pacific Telecom (APTG) and an unnamed US-based carrier have successfully completed cross-carrier blockchain payments for customers using its platform.
According to a press release, the Proof-of-Business (POB) mobile payment transactions were conducted using the Cross-Carrier Payment System (CCPS) platform, a cross-carrier blockchain payment network developed by TBCASoft.
“The CCPS network aims to create the largest open payment network enabling cross-border transactions and interoperability for mobile payment solutions globally,” the release said.
Mobile subscribers from the US carrier visiting Taiwan in December 2019 were able to make purchases at a participating merchant using their mobile payment app while on APTG’s payment network called Gt Pay, which is connected to the CCPS network. The platform allowed the transactions to be billed and paid through direct carrier billing in the purchaser’s home currency.
Mei-Hui Teng, Vice President of Marketing Center at APTG, said that APTG will be one of the first carriers to launch the cross-border payment service and commercialize it in the Taiwan market.
“We foresee the strong growth of overseas travel and the popularity of the e-wallet service; our cross-border mobile payment service will create a considerable benefit to APTG’s subscribers. The service can help travelers reduce foreign transaction fees and enjoy the benefits of mobile cashless payments,” he added.
Calling the successful POB payments a “milestone event”, Ling Wu, Founder and CEO of TBCASoft, and Co-Chairman of the CBSG Consortium said that this validates the feasibility of CCPS for live transactions.
“CCPS, helps telecom carriers unlock their business value by providing a cost-effective solution to scale cross-border payments and create new monetization opportunities leveraging their existing user-base and infrastructure. CCPS works as a highly trusted and robust platform to connect carriers and Over-The-Top (OTT) payment networks into one large open-loop global payment network, creating synergy for both by matching a carrier’s subscribers with OTT merchants,” added Wu.
Launched in September 2017, CBSG aims to build a next-generation global cross-carrier blockchain platform and ecosystem. Founding members include TBCASoft, SoftBank, Sprint Corporation, and Far EasTone Telecommunications. The consortium has also been joined by LG Uplus, KT Corporation, Etisalat Telecommunication Corporation, PLDT, Turkcell, Viettel Telecom Corporation, and Zain Group, among others.
Meanwhile, four global telecom giants – Deutsche Telekom, T-Mobile US, Telefonica and Orange – are jointly testing a blockchain solution in collaboration with the GSMA to automate the management of inter-operator roaming discount agreements.
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