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PoB Transactions Successful On Cross-Carrier Payment

Shailesh Panwar by Shailesh Panwar - 09:42 PM Feb 19, 2020
PoB Transactions Successful On Cross-Carrier Payment

Additional improvements in the field of blockchain have been tackled every day. One of the significant challenges was how the leading startups working with blockchain technology could make their services not only convenient but also useful for customers from several nations.

A collaboration which has been working on that is the Carrier Blockchain Study Group (CBSG) Consortium. The CBSG group, which was founded in 2017, has offered a reliable way for telecom users to make digital payments directly with their carriers using blockchain. 

The Collaboration Will Improve PoB

On 18 February, CBSG founding member and a blockchain platform, TBCASoft announced through a press release that APTG (Asia Pacific Telecom Co. Ltd.) together with a US mobile carrier, has successfully completed PoB(Proof-of-Business) payment transactions. With the help of TBCASoft developed blockchain network, Cross-Carrier Payment System (CCPS), transactions could be paid immediately in the customer's currency via their mobile carrier. 

Partnerships Lead To Innovation In Blockchain Technology 

The CBSG operated with Taiwan-based local merchants to complete transactions with Gt Pay, a payment system from APTG. Every participant was a mobile subscriber having a US-based carrier. Mei-Hui Teng, APTG Vice President for Marketing, remarked on PoB's success:
"[We] will be among the first carriers to start the cross-border payment service and manage it in the market of Taiwan. We anticipate the popularity of the e-wallet service and the strong growth of overseas travel; our cross-border mobile payment service will provide a significant benefit to APTG's subscribers. The service can reduce foreign transaction fees for travellers and let them experience the advantages of mobile cashless payments."
They were not the first one to see the benefits of serving together. Earlier, there had been several partnerships to support cross-border payments. On 3 October, Samsung Pay tied up with Finablr, a payment platform to provide cross-border payments to its customers.

About The Author
Shailesh Panwar

Shailesh PanwarShailesh is an ardent follower of the crypto world and keenly watches every development taking place in the cryptocurrency space. He loves to voice his opinions through well-curated blogs and articles, which throw light on different facets of the crypto industry.

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