Globe Telecom subsidiary Mynt plans to launch a new cloud-based white-label digital money FinTech platform for retailers named Casa.
Mynt has selected Amdocs' Mobile Financial Services platform to power Casa. The Amdocs solution will be deployed on the AWS cloud.
Casa will allow retailers to offer bill payments, money transfers, closed-loop merchant payment solutions and loyalty program management.
The service will also let retailers issue a closed-loop companion prepaid card to customers, even those not holding a bank account. Cards will be linked to a user's mobile wallet account.
Amdocs has secured a five-year contract to assume responsibility for development, deployment, operation and maintenance of the Mobile Financial Services solution under a SaaS agreement using a revenue-sharing model with Mynt.
“Retailers in emerging markets such as the Philippines need their own e-money solution that allows them to offer financial services such as point-of-sale payments, using cashless methods such as mobile wallets, payment cards and loyalty points,” Mynt chief sales officer JM Aujero said.
“With Casa’s easy-to-use cloud-based platform, we will be able to provide for this need in a way that is tailored to each individual retailer. At the same time, it will enable them to offer wider financial services, such as third-party bill payments and money transfers without having to invest in new infrastructure deployment and operations.”