Amdocs launches cloud-based mobile payments solution

Amdocs has announced the launch of Amdocs Mobile Payments, 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 on board and manage the richest set of app stores, merchants and agregators; and 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. The new solution provides fast time to market, broad functional capabilities, affordable business models, scalability, flexibility, and automation.

''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,'' said Brian Shepherd, Amdocs division president.