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  • Date of publication: 31 August 2020
  • 2546
  • businessbuysale.com
  • SoftBank will create its own payment system - competitor PayPal and Apple Pay

    Synopsis

    Japanese telecommunications corporation SoftBank in the near future will launch its own payment system, capable of competing with market leaders - PayPal, Alipay and Apple Pay. This writes The Sunday Times, citing sources familiar with the company's plans

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Japanese telecommunications corporation SoftBank in the near future will launch its own payment system, capable of competing with market leaders - PayPal, Alipay and Apple Pay. This writes The Sunday Times, citing sources familiar with the company's plans.

 

Now, representatives of the company are negotiating to create a consortium with the world's leading banks to launch the system. Within the framework of the project, SoftBank buys a Swiss group for the development of banking software Temenos Group for 10 billion Swiss francs.

Representatives of the company declined to comment.

Earlier, the founder of the messenger Telegram Pavel Durov announced the launch of the blocking platform Telegram Open Network (TON) and crypto currency Gram.

It is expected that the distributed supercomputer and money transfer system from Telegram will be able to compete with Visa and Mastercard in a decentralized economy . The developers do not yet disclose how the experience of developing convenient interfaces will help them create a tool for using crypto currency, which will replace the traditional payment infrastructure, and complain about the low transaction speed of modern block networks (seven transactions per second for bitcoins and 15 for Ethereum).

In January, it was reported that SoftBank in the spring of 2018 plans to conduct an IPO of its telecommunications unit on the Tokyo or London exchange and raise $ 18 billion. This primary placement could become one of the largest in the history of Japanese companies (in 1987 Nippon Telegraph and Telephone attracted 2.2 trillion yen, SoftBank expects 2 trillion yen).

 

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