STS Launches Account Management System - PayONE AMS
In a pledge to virtualize the “pre-paid account” concept, BusinessONE, the e-Business Division of STS, Jordan’s leading enterprise-level IT solution Provider, has recently launched its latest product, PayOne AMS™ (Account Management System).
Beside the traditional Global Credit/Debit Cards Payment Schemes, Issuers and Acquirers are expanding their offerings by introducing Closed-Loop and Proprietary Payment Schemes based on the concept of “Prepaid Accounts”.Such a concept can be introduced in the form of Prepaid Physical Cards or Prepaid Virtual Cards (e-Wallets).
"In response to customized organizational development needs, STS is offering a reliable, scalable payment management system enabling Issuers and Acquirers to tap into one of the most demanding methods by various business sectors (e.g. Telecoms, Energy and Fueling, Retail…etc). PayONE™ AMS™ is built using an open standard platform (PayONE™) utilizing the up-to-date security measures and accommodating the international mandated standards for security, serving as a further testimony to STS's mission directed towards maximum efficiency and optimum performance", stated Subhi Abuzahra, Manager, Product Management Unit.
Possible Applications for such product are: Accounts for salaries “Labor payment Cards” where labors can get their salaries in virtual accounts and cash it on multiple-channels (multi-currencies),. Another example is Petrol prepaid cards “Accounts for filling petrol”, where car owners can use virtual accounts to fill their cars with petrol.