According to Amdocs division president, Brian Shepherd 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.'
'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.'
Shepherd says with Amdocs mobile payments, operators can quickly capture new and emerging revenue streams in the mobile payments market which is predicted by Juniper Research to reach $670 billion by 2015.
Shepherd also said that the solution was based on Amdocs' expertise where today it processes more than 250 million mobile payment transactions a year, totalling 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 post-paid bill, prepaid balance or mobile wallet