OpenMarket Releases New Features to Improve Reliability of Financial Processing for the Mobile Industry
New Pre-Authorization Capabilities Help Increase Transaction Success Rates
OpenMarket Inc., a premier provider of mobile messaging and financial payment processing systems for direct-to-consumer (D2C) mobile commerce, today unveiled enhancements to its mobile commerce service designed to improve transaction success rates and revenue assurance for mobile content providers. OpenMarket also announced that it has expanded its direct connections with several mobile service providers, enabling businesses to reach an estimated 98 percent of U.S. mobile subscribers. The announcements were made at CTIA Wireless 2008 (OpenMarket Booth #7003).
With industry estimates of mobile content spending in North America expected to exceed $4 billion by 2010, OpenMarket is helping companies tap into this potential revenue stream and operate more profitable off-portal mobile commerce businesses. OpenMarket estimates that three out of ten off-deck mobile payment transactions fail, and more than 10 percent of successful transactions result in a refund. OpenMarket’s new capabilities address these challenges by improving payment processing for premium content and programs, including ringtones, games and interactive TV campaigns, directly to consumers. New capabilities include:
OpenMarket Pre-Authorization API (Application Programming Interface):
OpenMarket’s patent-pending pre-authorization capabilities, available today in beta, provide merchants with metrics that predict the probability of transaction success before the transaction is delivered to the service provider bill. An industry first for off-deck mobile commerce, the capability leverages data such as historic transaction success rates, eligibility for premium content, billing system constraints and other indicators that are used to predict the likelihood of a transaction’s success before the transaction is attempted. OpenMarket is currently engaged with beta customers to benchmark and test its new Pre-Authorization API.
Wireless Application Protocol (WAP) Billing:
OpenMarket’s WAP Billing capability, which separates the billing event from content delivery in mobile commerce transactions, allows the subscriber to charge the payment to their mobile phone bill and download off-deck content without ever having to send or receive a premium SMS (Short Message Service). The direct billing capabilities improve conversion rates through an enhanced consumer purchasing experience and improved payment system integration.
Expanded Real-Time Reporting Capabilities:
OpenMarket has enhanced the reporting capabilities of its online Customer Center tool to enable customers to view and track messaging activity in near real-time for monitoring and testing purposes. Customers can also access additional improved financial reports for direct transaction visibility and revenue forecasting.
Additional Direct Service Provider Connections:
OpenMarket also announced the launch of premium SMS support with additional mobile service providers, which expands OpenMarket’s market leadership for mobile reach in the U.S, increasing the number of additional mobile subscribers to more than 3 million.
“OpenMarket’s continued momentum and new enhancements reinforce our overall vision of reducing the cost of processing transactions to drive business growth and profitability in the direct-to-consumer mobile commerce market,” said Steve Shivers, general manager of OpenMarket. “We have dramatically improved the process for charging mobile goods and services to a service provider bill to enable higher success rates and improved revenue assurance for both service providers and merchants.”
OpenMarket is the only complete messaging and financial system for mobile commerce, and the choice for companies looking to reliably sell premium digital content directly to consumers. OpenMarket provides an innovative and powerful suite of on-demand services from a trusted industry expert enabling the largest consumer brands to the smallest enterprises to rapidly and cost effectively launch their product offers and promotions in the mobile channel. OpenMarket provides the most direct network operator connections in the U.S. market today. Visit www.openmarket.com for more information.
Amdocs is the market leader in customer experience systems innovation, enabling world-leading service providers to deliver an integrated, innovative and intentional customer experience(TM) – at every point of service. Amdocs provides solutions that deliver customer experience excellence, combining the software, service and expertise to help its customers execute their strategies and achieve service, operational & financial excellence. A global company with revenue of $2.84 billion in fiscal 2007, Amdocs has over 16,000 employees and serves customers in more than 50 countries around the world. For more information, visit Amdocs at www.amdocs.com.
Amdocs Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs’ growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs’ ability to grow in the business segments it serves, adverse effects of market competition, rapid technological shifts that may render the Company’s products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future, however the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company’s filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2007, filed on December 3, 2007, and in our quarterly 6-K furnished on February 11, 2008.
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