May 21, 2024

Samsung SDS and Syniverse will develop a blockchain platform for mobile payments

The IT division of international technology giant Samsung SDS has announced a collaboration withtelecommunications company Syniverse to develop a blockchain system for mobile payments.

According to the developers, the platform will simplify andwill accelerate payments between mobile operators and companies in various sectors of the economy, including in the field of finance, logistics, tourism and the hotel business. The platform will be compatible with any mobile operator, and using the blockchain, users will be able to send money, loyalty points and cryptocurrencies to each other, as well as pay them all over the world.

The system will be developed based onSamsung SDS Nexledger Universal corporate platform and Syniverse Universal Commerce platform. In addition to user applications, developers intend to introduce 5G technology and the Internet of things to make payments. According to companies, users will be able to make payments without creating a mobile wallet, and payment will be made through a cell phone number.

Let us recall that in October Samsung SDS announcedplans to launch a blockchain-based medical claims processing system, as well as introduce a new blockchain platform for tracking supply chains together with the American company Pega and the Indian concern Tech Mahindra.