On March 4, the Korean Herald reported that Samsung SDS, South Korean telecommunications and business strategy consulting service provider, has announced a partnership with Credorex, Israeli smart payment provider to co-develop payment solution for merchants and banks in Europe.
Samsung SDS’s Nexledger Universal blockchain platform will allow merchants to reconcile payments, cross-border remittance, and invoices with their banks’ record. The blockchain platform will be integrated with Samsung SDS’s AI-based Brity Works to create a smart payment platform.
Hong Won-pyo, President and CEO of Samsung SDS, has commented about this recent partnership: “Together with Credorax, which specializes in payment solutions, Samsung SDS will try to expand its business in the European sectors that seek digital transformation.”
Recently, Samsung updated the Nexledger blockchain to support Zero-knowledge Proof in order to raise the level of user privacy. The new solution will allow verification and record transactions on a blockchain without the disclosure of sensitive personal information.
Earlier this year, Sina, a Chinese media, reported that Samsung SDS will work together with Syniverse to develop a mobile payment platform using blockchain technology. The collaboration aimed to facilitate transactions between mobile phone service providers and operators in different regions of the world. In early February, the Origin Protocol (OGN), a sharing economic organization, has enabled Samsung users to trade on its marketplace using Samsung Blockchain Wallet as well.
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