PoB Transactions on Cross-Carrier Payment System Successful

The Carrier Blockchain Study Group Consortium is one such collaboration doing just that.

Launched in September 2017, the group provides a secure way for telecom customers to make digital payments directly with their carriers using blockchain technology.

Blockchain platform TBCASoft, a founding member of the CBSG, announced in a Feb. 18 press release that Taiwan-based Asia Pacific Telecom Co. Ltd. and a US mobile carrier successfully completed Proof-of-Business payment transactions.

Using the Cross-Carrier Payment System, a blockchain network developed by TBCASoft, transactions can be paid directly in the user's currency through their mobile carrier.

The CBSG worked with local merchants in Taiwan to complete transactions through APTG's payment system, Gt Pay.

All participants were mobile subscribers with a US-based carrier.

"[We] 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.

Samsung Pay partnered with the payment platform Finablr on Oct. 3 to offer cross-border payments to its users.