Customers of a US carrier have used a mobile payment app to bill purchases made at a merchant in Taiwan to their mobile phone account, a consortium of companies developing a blockchain-based carrier billing system has announced.
POB transactions between Asia Pacific Telecom and US carrier validates CCPS-enabled live retail purchases.
The Carrier Blockchain Study Group (“CBSG”), the global blockchain consortium of telecom carriers and US-based TBCASoft (“TBCASoft”), announced that Taiwan-based Asia Pacific Telecom Co., Ltd. (“APTG”) and a US-based carrier jointly completed Proof-of-Business (POB) mobile payment transactions enabled by 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.
In the December 2019 POB, mobile subscribers from the US carrier visiting Taiwan used their mobile payment app to complete purchases at a participating merchant while on APTG’s payment network called Gt Pay, which is connected to the CCPS network. CCPS enables the transactions to be conveniently billed and paid through direct carrier billing in the purchaser’s home-currency.
Mei-Hui Teng, Vice President of Marketing Center at APTG said, “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.”
Ling Wu, Founder and CEO of TBCASoft, and Co-Chairman of the CBSG Consortium said, “The successful POB transactions mark a milestone event, validating 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.”
The CBSG Consortium is the leading telecom blockchain consortium. It was launched in September 2017 to enable the joint development of an innovative blockchain platform designed specifically for telecom carriers, led by blockchain technology company TBCASoft, and Japan-based SoftBank Corp., with US-based Sprint, and Taiwan-based Far EasTone Telecommunications as initial founding members.
CBSG aims to provide telecom members and their customers various services such as secured global digital payments, clearing and settlement, personal authentication, IoT applications and other services using blockchain technology.
TBCASoft is a US-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.
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