Telecom Cos. Achieve Cross-Carrier Mobile Services Utilizing Blockchain
A global blockchain consortium of telecom carriers, The Carrier Blockchain Study Group (CBSG), has declared that Asia Pacific Telecom (APTG) and a US-based carrier have finished cross-carrier blockchain payments for consumers adopting its platform.
According to a press release, the POB (Proof-of-Business) mobile payment transactions were administered utilizing the CCPS (Cross-Carrier Payment System) platform, a cross-carrier blockchain payment network designed 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 stated.
Mobile subscribers from the US carrier touring Taiwan in December 2019 were capable of making purchases at a participating merchant utilizing their mobile payment app while on APTG’s payment network named Gt Pay, which is linked to the CCPS platform. The platform enabled the transactions to be billed and paid by direct carrier billing in the buyer’s home currency.
Vice President of Marketing Center at APTG, Mei-Hui Teng, stated that APTG would be the first carrier to introduce the cross-border payment service and market it in the market of Taiwan.
“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.
Proclaiming the victorious POB payments a “milestone event,” Ling Wu, Founder and CEO of TBCASoft, and Co-Chairman of the CBSG Consortium stated that this confirms the usefulness 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 intends to develop a next-generation global cross-carrier blockchain platform and ecosystem. Founding members comprise Sprint Corporation, TBCASoft, SoftBank, and Far EasTone Telecommunications.
The consortium has also been accompanied by Etisalat Telecommunication Corporation, Viettel Telecom Corporation, LG Uplus, KT Corporation, PLDT, Turkcell, and Zain Group, among others.
Meantime, four global telecom giants – T-Mobile US, Deutsche Telekom, Telefonica, and Orange – are collectively testing a blockchain solution in association with the GSMA to automate the management of inter-operator roaming discount agreements.