LG UPlus Trials Overseas Blockchain Payment Solution
LG UPlus announced last weekend that it will be partnering with other telecom providers in the US, Japan and Taiwan for a blockchain-based overseas payment service solution.
The system will reportedly allow customers to purchase on the network of any of the partners from selected retailers when they travel anywhere in Taiwan, Japan, or Korea. Purchases will also be linked to the client’s direct carrier billing, so that subscribers can pay in their country’s currency and avoid fees on overseas credit card transactions.
A memorandum of understanding (MOU) had already been signed last week with Far EasTone Telecommunications (Taiwan), SoftBank (Japan) and TBCAsoft (US). The LG Corporation-owned cellular carrier says it will start testing in early 2019.