Software-as-a-Service platform Amdocs is expanding its work with payment services company Worldline to better serve its subscription merchants around the world, according to an Amdocs press release Wednesday (May 11).
“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,” said Kelly Harvin, global director of channel partnerships at Worldline.
As part of the partnership, merchants can expand their offerings in North America, Europe, Asia Pacific and Latin America, while also accepting multiple payment methods and currencies, the press release said. The deal gives subscription merchants access to both Amdocs Vindicia eCommerce’s cloud-based, SaaS, subscription monetization platform and Worldline’s merchant payment processing solutions, including mobile and secure payments.
“The subscription industry continues to grow, enriched by the continued diversification of subscription services,” said Anthony Goonetilleke, Amdocs’ group president of technology and head of strategy, in the press release.
“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,” he said.
Related: SaaS Platform Paddle Valued at $1.4B Following $200M Series D
Earlier this week, British SaaS payments infrastructure platform Paddle raised $200 million in a Series D funding round that values the company at $1.4 billion.
Paddle Co-Founder and CEO Christian Owens said in the release the company will use the investment to build its platform and “meet the market opportunity that exists for a complete payment infrastructure provider for software companies globally.”
Owens noted that SaaS companies are seeing sustained growth following the pandemic, a trend he said will continue as businesses and consumers embrace digital tools like Zoom and Canva. He said the SaaS industry — worth $397 billion last year, per the release — is expected to reach $692 billion in 2025.
Paddle offers SaaS firms a “different approach to payments infrastructure” by integrating checkout, payment, subscription management, invoicing, international taxes and financial compliance processes, Owens said in the release.
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