Amdocs introduced a Mobile Financial Services card management system for helping service providers 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.
Amdocs said its 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 company also noted that 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.
“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.”
