Cloud-based solution supports service providers across all industries in offering their own debit or prepaid payment cards, linking to a mobile wallet as the source of funds

Bangkok, Amdocs (NASDAQ: DOX), the leading provider of customer experience solutions, recently announced the availability of its Mobile Financial Services (MFS) card management system, which supports service providers across all industries, including communications, retail and financial services, in launching their own debit or prepaid payment cards. The cards can be linked to a mobile wallet, with stored monetary value, loyalty points or airtime as the source of funds. Customers who don’t have a bank account can use these cards to pay for purchases at retail point of sale terminals to withdraw cash from an ATM or for online shopping.

Although Thais are using more smartphones than ever before[1], and there’s been a gradual uptake in mobile wallet use however there is still a significant number of unbanked population. Amdocs Mobile Financial Services Card Management System supports MFS service providers and enables them to offer payment cards through a more familiar, robust and inclusive system. This could help in breaking the great barrier to Mobile Financial Services (MFS) uptake in the country and attract new Thai customer segments, turning some of the country’s 22% unbanked population into first-time banked customers.
Amdocs MFS card management system can be quickly deployed on the cloud as Software as a Service (SaaS), integrating securely with local card-manufacturing companies for card printing and distribution. The system incorporates a back-office administration user interface that manages card specifications, card product definitions and issuer identification number (IIN) ranges. The user interface also offers card ordering workflows with external card printer companies, including recording of card testing results. Application programming interfaces (APIs) enable activation of both physical and virtual cards and their association with stored value accounts, such as mobile wallet and loyalty point accounts. Card numbers issued by the system are validated each time a payment request is processed.

“Enabling unbanked and under-banked consumers to own debit or prepaid payment cards will empower them to join the modern digital economy and further encourage them to adopt more mobile financial services,” said Patrick McGrory, president for Amdocs’ emerging offerings. “Amdocs’ Mobile Financial Services card management system supports our mobile financial services offerings in digital banking, remittances, and digital commerce and payments markets. The ability to issue debit or prepaid payment cards, without investing in technology infrastructure or third-party systems, enables mobile financial service providers across all industries to offer a true multi-channel consumer experience, driving the growth of mobile financial services adoption and usage.”

Amdocs also separately announced that Mynt, Globe Telecom’s fintech subsidiary, has selected the Amdocs MFS solution to power their new Casa service. Casa will enable Mynt to offer retailers a cloud-based, financial-grade, white-label digital money fintech platform, providing retailers with the means to offer a wide range of financial services, including closed-loop companion prepaid cards, thereby generating a new revenue stream.

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About Amdocs

Amdocs is the market leader in customer experience software solutions for the world’s largest communications, entertainment and media service providers. For more than 30 years, Amdocs solutions, which include BSS, OSS, network control, optimization and network functions virtualization, coupled with professional and managed services, have accelerated business value for its customers by simplifying business complexity, reducing costs and delivering a world-class customer experience.
The Amdocs portfolio enables service providers to capture the world of digital immediacy by operating across digital dimensions to engage customers with personalized, omni-channel experiences; creating a diversified business to capture new revenue streams; becoming data empowered to make business and operational decisions based on insight-based and predictive analytics; and achieving service agility to accelerate the fast rollout of new technologies and hybrid network services.
Amdocs and its 25,000 employees serve customers in over 90 countries. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $3.7 billion in fiscal 2016.
Amdocs: Embrace Challenge, Experience Success.

For more information, visit Amdocs at www.amdocs.com.

Issued on behalf of Amdocs by SPARK Communications
For more information, please contact:
Sikkhawan Chotpradit (Gift)
Tel: 02 653 2717-9
Fax: 02 653 2720
gift@spark.co.th