News Release
January 9, 2020
Samsung SDS and Â鶹´«Ã½Ó³» Simplify Mobile Payments for Anyone with a Phone
Companies Combine Their Mobile and Blockchain Technologies to Establish Common Payment Platform for Mobile Operators and Users
LAS VEGAS, Nev. – Jan. 9, 2020 – At the 2020 International CES®, , a global leader in digital transformation and innovation solutions, and Â鶹´«Ã½Ó³», the world’s most connected company, announced today 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 ³§²â²Ô¾±±¹±ð°ù²õ±ð’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 Â鶹´«Ã½Ó³» developed the platform using a motto of simplicity that “Your phone number has become your easiest payment method.â€
Samsung SDS and its 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.
³§²â²Ô¾±±¹±ð°ù²õ±ð’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 mobile devices in 158 countries and annually processes more than $35 billion in transactions for mobile operators and enterprises.
³§²â²Ô¾±±¹±ð°ù²õ±ð’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 services and technologies – regardless of industry or connectivity type.
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Supporting Quotes
- Scott Koo, President, Samsung SDS America
“The need for simple, fast, secure, auditable and cost-effective monetary transactions is growing worldwide. Today the cost to consumers and merchants is too high. The proven attributes of blockchain along with the scalability and flexibility of Nexledger Universal, and ³§²â²Ô¾±±¹±ð°ù²õ±ð’s decades of payment and settlement experience, create the opportunity to lead the market in delivering a frictionless phone-to-phone or phone-to-merchant payment engine for secure, simple exchange of value. With our shared values, differentiated offerings and extensive capabilities, Samsung SDS and Â鶹´«Ã½Ó³» are primed to securely convert your mobile phone into an easy-to-use digital wallet.â€
- Dean Douglas, Chief Executive Officer and President, Â鶹´«Ã½Ó³»
“Our goal is to establish universal financial transaction trust for every connected device in the world. As part of this, we’re focused on reducing the friction of cross-regional mobile payments and addressing ever-increasing regulatory requirements by leveraging blockchain technologies. Today’s digital transformation requires mobile operators and businesses to offer their customers and employees seamless mobile experiences, especially in the area of clearing and settlement. In collaboration with Samsung SDS, we intend to integrate the power of blockchain to design a mobile wallet platform that solves some key challenges of mobile payments and builds trust in a mobile user’s identity, device and transaction.â€
Digital Assets
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Supporting Resources
- Read about .
- Read about .
- Read about .
- Read about Â鶹´«Ã½Ó³».
- Read about Â鶹´«Ã½Ó³» Universal Commerce.
- Read about Â鶹´«Ã½Ó³» and IBM Complete Successful Blockchain Solution Pilot with Orange and MTS.
- Read about Dean Douglas.
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About Samsung SDS America
Samsung SDS America (SDSA) is the U.S. subsidiary of Samsung SDS, a $9 billion global leader in digital transformation and innovation solutions. SDSA helps organizations optimize their productivity, make smarter business decisions, and improve their competitive positions in a hyper-connected economy using our enterprise software solutions for secure mobility, retail, DOOH, advanced analytics, and contextual marketing.
About Â鶹´«Ã½Ó³»
As the world’s most connected company, Â鶹´«Ã½Ó³» helps mobile operators and businesses manage and secure their mobile and network communications, driving better engagements and business outcomes. For more than 30 years, Â鶹´«Ã½Ó³» has been the trusted spine of mobile communications by delivering the industry-leading innovations in software and services that now connect more than 7 billion devices globally and process over $35 billion in mobile transactions each year. Â鶹´«Ã½Ó³» is headquartered in Tampa, Florida, with global offices in Asia Pacific, Africa, Europe, Latin America and the Middle East.
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About Â鶹´«Ã½Ó³»
Â鶹´«Ã½Ó³» is the world's most connected company. We seamlessly connect the world's networks, devices, and people so the world can unlock the full power of communications.
Our secure, global technology powers the world's leading carriers, top Forbes Global 2000 companies, and billions of people, devices, and transactions every day. Our engagement platform delivers better, smarter experiences that strengthen relationships between businesses, customers, and employees.
For over 30 years, we have accelerated important advances in communications technology. Today we are an essential driver of the world's adoption of intelligent connectivity, from 5G and CPaaS to IoT and beyond. Find out more at .
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Matt McLoughlin