Telcos Complete Blockchain-Based Cross-Border Mobile Payment Trial

Announcements, Blockchain, News | February 27, 2020 By:

The Carrier Blockchain Study Group (CBSG) has announced that Taiwan-based Asia Pacific Telecom (APTG) and an unnamed US-based carrier jointly completed Proof-of-Business (POB) mobile payment transactions using its platform.

Formed by SoftBank, Sprint, Far EasTone and TBCASoft in 2017, the CBSG aims to develop an innovative blockchain platform designed specifically for telecom carriers. The goal of the group is to give telecom members and their users different services such as secured global digital payments, personal authentication, Internet of Things (IoT) applications, clearing and settlement and other services using blockchain technology. CBSG members include LG Uplus, KT Corporation, Etisalat Telecommunication Corporation, PLDT, Turkcell, Viettel Telecom Corporation, and Zain Group, among others.

The POB used CBSG’s Cross-Carrier Payment System (CCPS) platform, a cross-carrier blockchain payment network developed by TBCASoft, to help travelers reduce foreign transaction costs. 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.

According to the CBSG, the goal of the CCPS network is to create the largest open payment network enabling cross-border transactions and interoperability for mobile payment solutions globally.

“CCPS enables the transactions to be conveniently billed and paid through direct carrier billing in the purchaser’s home currency,” said APTG’s Mei-Hui Teng. “APTG will be one of the first carriers to launch the cross-border payment service and commercialize it in the Taiwan market.”