Tuesday, January 15, 2013
The U.S. Patent and Trademark Office granted a patent to mobile phone billing technology firm IDI Billing Solutions for its prepaid mobile payment solution, AdvancePay. IDI characterized AdvancePay as a hybrid service that melds the most desirable aspects of prepaid and postpaid mobile communications platforms.
"This pay-in-advance offering helps mobile operators secure greater flexibility in providing service to a wider market than traditional post-paid – without the high costs associated with comprehensive prepaid platforms," IDI said.
The AdvancePay payment model is based on intervals of time rather than consumption. When mobile prepaid phone users reload phones at the POS, they pay for service over a period of time instead of for a number of minutes.
"The inventors of AdvancePay ignored the status quo for prepaid mobile service and crafted a solution that was exactly what providers needed in order to expand their market reach and improve their margins," said Donald Culeton, President and Chief Executive Officer at IDI. "Their vision created a unique offering that has not only been a success in the market, it has also raised the bar on the level of creativity."
IDI said 25 percent of all mobile subscribers in the United States use prepaid wireless services. The company cited research from information technology advisory firm International Data Corp. (IDC) that said mobile telecommunication providers believe prepaid is a growth engine for the industry. IDI said AdvancePay helps mobile operators "secure greater flexibility in providing service to a wider market than traditional post-paid – without the high costs associated with comprehensive prepaid platforms."
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