Through this collaboration, merchants can better keep pace with a booming subscription industry, providing an ideal end-to-end experience for their customers
Amdocs, a leading provider of software and services to communications and media companies, announced it’s globally expanding work with Worldline, one of the global leaders in payment services, to better serve subscription merchants. This will ensure that merchants can expand their offerings on a global scale in North America, Europe, Asia Pacific and Latin America, while also accepting multiple payment methods and currencies.
As part of this agreement, subscription merchants will have the combined capabilities of Amdocs Vindicia eCommerce’s cloud-based, SaaS, subscription monetization platform with frictionless payment and transactional commerce, and Worldline’s merchant payment processing solutions including mobile and secure payments with a choice of preferred payment method and currency for increased conversion. Several top-tier subscriptions-based businesses across North America and Europe are currently leveraging these combined capabilities.
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According to recent research, UBS expects the subscription economy to expand into a USD 1.5 trillion market by 2025, implying an average annual growth rate of 18%. Over the long run, they expect subscriptions as a trend to broaden and gather significant traction in emerging markets.
Kelly Harvin, Global Director of Channel Partnerships at Worldline said: “The subscription economy is growing at a rapid rate, and today’s consumers demand a wide variety of payment methods, currencies and mobile usage in different localities. We’re happy to work with Amdocs’ Vindicia to increase conversion for their customers through providing the most optimal payment experience.”
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Anthony Goonetilleke, Group President of Technology and Head of Strategy, said: “The subscription industry continues to grow, enriched by the continued diversification of subscription services. This partnership with Worldline will provide subscription merchants a combined solution that enables them to create a better end-to-end experience from acquisition to billing, and the capability to scale to other markets rapidly.”
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