Amdocs Mobile Financial Services (MFS) solution have been selected by XL Axiata to improve its existing XL Tunai mobile financial services platform and introduce new services in a seven-year time period of managed services revenue-sharing contract.
Amdocs solution is expected to allow usage of a single wallet for all financial services including airtime top-up, money transfer, credit purchase, as well as online and retail payments, for both banked and unbanked XL Tunai customers across Indonesia.
The solution also allows XL Tunai customers to pay for TV media service, insurance, and travel purchases, for their future usages.
Amdocs will install and operate its MFS system, which will replace the previous version by XL Axiata, under a dedicated managed services model. The agreement entails provision of the overall solution, including technical design, hardware acquisition, system implementation, and third-party system integration.
Amdocs will also be offering dedicated business accelerator services by working in parallel with the XL Axiata’s business team, to develop new use cases and go-to-market strategies for the Indonesian market. The solution will be combined with online billers, merchants, and utility service providers.
Indonesia’s XL Axiata recently announced its first quarter results reporting a net profit of 20 billion rupiah ($1.5 million) in Q1 2016 against a loss of 758 billion rupiah in the same quarter last year. The revenue of the company grew by 2 percent with core usage revenue up 5 percent, driven by a 23 percent in the data segment. Data traffic grew 94 percent and total data users grew to 22.8 million, or 54 percent of XL’s total base.
