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Amdocs Unveils Card Management System for MFS; Globe Picks Amdocs to Power New Fintech Platform

Amdocs Unveils Card Management System for MFS; Globe Picks Amdocs to Power New Fintech Platform Image Credit: Amdocs

Amdocs announced availability of its Mobile Financial Services 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.

According to Amdocs, 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. 

Amdocs’ 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, said the company. 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. 

Amdocs also separately announced that Mynt, Globe Telecom’s fintech subsidiary, has selected the Amdocs Mobile Financial Services 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. 

Patrick McGrory, president for Amdocs
Amdocs’ Mobile Financial Services card management system supports our mobile financial services offerings in digital banking, remittances, and digital commerce and payments markets. 

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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