Amdocs unveils cloud-based mobile payment system

Source: Amdocs

At Mobile World Congress 2012, Amdocs (NYSE: DOX), the leading provider of customer experience systems, today announced the launch of Amdocs Mobile Payments.

The new solution is a cloud-based gateway, enabling mobile operators to quickly, securely and cost-effectively scale their mobile payments business for both prepaid and postpaid customers to open new revenue streams. Mobile payments that are charged via the carrier offer consumers the convenience of charging purchases directly to their mobile phone bill, prepaid balance or mobile wallet.

With Amdocs Mobile Payments, operators can quickly capture new and emerging revenue streams in the mobile payments market which is predicted to reach $670 billion by 2015, according to Juniper Research#.

The solution is based on Amdocs' expertise where today it processes more than 250 million mobile payment transactions a year, totaling more than $2 billion in mobile payment revenues. The solution allows mobile operators to:

  • onboard and manage the richest set of app stores, merchants and aggregators
  • process transactions for both physical and digital goods or services
  • settle against all available payment methods such as postpaid bill, prepaid balance or mobile wallet

The Amdocs Mobile Payments Solution is Software-as-a-Service (SaaS) based, which is BSS (business support systems) vendor agnostic and enables the following:

  • Fast time to market - pre-integrated with Google's Android Market as well as supporting the requirements of other app stores (e.g. Microsoft Marketplace, BlackBerry AppWorld, Amazon), leading content providers, gaming and virtual credits companies, and payment aggregators.
  • Broad functional capabilities - new use cases, features and technologies such as in-app billing, self-service, and advanced refund options are added dynamically by Amdocs as the mobile payments market evolves.
  • Affordable business model - operators of every size and location can enter the mobile payments market or scale their operations while reducing the cost of managing off-portal l content business by offering the solution on a revenue-share or per-transaction business models.
  • Scalability, flexibility and automation - simple partner onboarding process, broader payment options, and automated settlement of accounts.
  • Leverages Amdocs' proven technologies - a reliable, scalable and secure solution, leveraging Amdocs' technology and experience with its Digital Commerce Solution, in use by the largest operators in North America and Latin America.

"Today's shopping experience is increasingly mobile and consumers prefer the convenience of mobile payments settled on a carrier bill rather than disclosing their credit card details to unknown retailers," said Brian Shepherd, Amdocs division president. "Mobile payments using prepaid balance are often the most attractive payment option for young and unbanked consumers who want to participate in the digital economy. Mobile network operators are uniquely positioned to take advantage of their billing relationships with their consumers to enable them to do more in the connected world." 

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