Amdocs and Worldline Collaborate to Enable Subscription Merchants to Expand Globally
JERSEY CITY, N.J., May 11, 2022 (GLOBE NEWSWIRE) -- Amdocs (NASDAQ: DOX), a leading provider of software and services to communications and media companies, today 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.
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.”
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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Amdocs helps those who build the future to make it amazing. With our market-leading portfolio of software products and services, we unlock our customers’ innovative potential, empowering them to provide next-generation communication and media experiences for both the individual end user and enterprise customers. Our 30,000 employees around the globe are here to accelerate service providers’ migration to the cloud, enable them to differentiate in the 5G era, and digitalize and automate their operations. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.3 billion in fiscal 2021. For more information, visit Amdocs at www.amdocs.com
Worldline [Euronext: WLN] is a global leader in the payments industry and the technology partner of choice for merchants, banks and acquirers. Powered by 20,000 employees in more than 50 countries, Worldline provides its clients with sustainable, trusted and innovative solutions fostering their growth. Services offered by Worldline include instore and online commercial acquiring, highly secure payment transaction processing and numerous digital services. In 2021 Worldline generated a proforma revenue close to 4 billion euros. worldline.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 markets that it serves, Amdocs’ ability to successfully integrate acquired businesses, 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 Amdocs’ filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2021 filed on December 10, 2021, and our Form 6-K furnished for the first quarter of fiscal 2022 on February 14, 2022.
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