At CES 2020, Samsung SDS, a global leader in digital transformation and innovation solutions, and Syniverse the world’s most connected company, announced they have signed a memorandum of understanding to develop a wallet-agnostic, mobile payment platform to enable regulatory-compliant, cross-region mobile transactions for mobile operators and enterprises in logistics, financial, travel and hospitality, media and entertainment, and retail markets.
The companies will bring together Samsung SDS’s Nexledger Universal platform and Syniverse’s industry-leading blockchain solution, Universal Commerce, and market-aware Mobile Engagement platform to develop a common platform that will work with any mobile operator and allow any mobile user to send money, loyalty points, or other digital currencies to other mobile users or merchants on a global basis.
Samsung SDS and Syniverse developed the platform using a motto of simplicity that “your phone number has become your easiest payment method.”
Samsung SDS and its Nexledger Universal platform allow enterprises to take control of distributed transactions, securely and conveniently. The platform has been implemented in various fields, such as finance, manufacturing, logistics, and the public sector.
Nexledger Universal offers a flexible application programming interface that can be applied to different blockchains like Ethereum, Hyperledger Fabric and Samsung’s own Nexledger Consensus Algorithm. In addition, Nexledger Universal can interoperate with diverse wallet-device architectures from vanilla Android to the defense-grade Samsung Knox for exceptional security when needed.
Syniverse’s mobile technology products and services provide a secure instant-access platform for seamless, customizable multi-channel messaging and connectivity. The platform connects more than 7 billion devices in 158 countries and annually processes more than $35 billion in transactions for mobile operators and enterprises.
Syniverse’s Universal Commerce blockchain service simplifies, accelerates, and secures multiparty agreements by replacing manual processes with smart contracts, unifying data records, and providing encryption. It reduces the friction of doing business in a revenue-sharing world of large-scale global service and technologies – regardless of industry or connectivity type.