Enhanced Financial Processing Capabilities Help Improve Mobile Transaction Success Rates
OpenMarket, a leading provider of mobile messaging and financial processing services for direct-to-consumer (D2C) mobile commerce, today announced the launch of OpenMarket Version 2.0. This new release of OpenMarket’s messaging and financial processing platform is designed to simplify transactions between mobile content providers and individual consumers. The platform delivers a highly scalable system architecture that enables significant improvement in the integrity of the financial data associated with mobile transactions. The announcement was made today at CTIA Wireless I.T. & Entertainment 2007 (OpenMarket Booth #1333).
OpenMarket’s innovative platform features new capabilities that will enable automated authorization for digital content transactions, additional online resources for mobile commerce management, and expanded support for Multimedia Message Service (MMS). Enhancements to the platform offer digital content providers an alternative to the traditional approach of legacy Short Message Service (SMS) aggregators for processing mobile transactions. Unlike legacy systems, OpenMarket Version 2.0 is modeled after large-scale financial processing systems such as those used by credit card clearing houses and online retailers.
OpenMarket Version 2.0 features unique authorization capabilities that enable content providers to improve transaction success rates. The industry’s first Pre-Authorization Application Protocol Interface (API) returns a patent-pending AuthScore that can incorporate important factors such as the subscriber’s purchasing history, spending limit, type of payment plan, and refund activity. As a result, content providers can access OpenMarket’s predictive algorithm that incorporates transaction history to assess a subscriber’s ability to pay for their digital content. OpenMarket estimates that this technology can help content providers improve transaction success rates by up to 10 percent or more.*
“We are very excited about the new authorization capabilities from OpenMarket and the impact on our bottom line,” said Ron Czerny, chief executive officer of PlayPhone, Inc., a leading provider of premium digital content in the U.S. “OpenMarket is once again leading the way with its unique and innovative approach to improving transaction success rates.”
As part of OpenMarket Version 2.0, customers will have direct access to the new Customer Center, an online resource for complete mobile commerce business management. The updated Customer Center provides real-time, consolidated reporting with detailed information on messaging and financial transactions processed through OpenMarket. It also includes a new Message Center where customers can view the latest OpenMarket news and announcements. In addition, the new Customer Center features an improved Short Code Registration tool that enables content provides to submit new short code programs online.
OpenMarket Version 2.0 offers expanded support for MMS, the industry’s latest messaging technology that enables content providers to deliver premium content including images, audio, video, and rich text to subscribers. MMS provides an additional platform for consumers to obtain and share advanced digital content over their mobile phones. With these additional support capabilities, OpenMarket is able to expand its MMS connectivity from two leading U.S. wireless providers to other top network operators in the coming months.
Another significant benefit to both OpenMarket customers and network operator partners are the enhanced billing and message blocking capabilities in OpenMarket Version 2.0 that ensure that the right transactions are processed while preventing billing to deactivated or recycled phone numbers.
“With OpenMarket Version 2.0, we are providing content merchants a huge step forward from legacy SMS aggregation solutions they’ve had to rely on in the past. Our customers will have the same robust features as the original version, as well as a set of unique new capabilities that can directly improve their business growth and profitability,” said Steve Shivers, general manager of OpenMarket.
For a demonstration and more information on OpenMarket Version 2.0, please visit the OpenMarket Booth # 1333 during CTIA Wireless I.T. & Entertainment 2007 or www.openmarket.com.
* The transaction success rates for the OpenMarket Version 2.0 authorization capabilities are based on OpenMarket’s initial beta testing and research.
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.
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