IDT Introduces Zendit, a Global Prepaid-as-a-Service Platform

Rhea-AI Summary

IDT Corporation (NYSE: IDT) has launched Zendit, a cloud-based prepaid-as-a-service platform, set to debut at Mobile World Congress 2023 in Barcelona from February 27 to March 2. This platform allows businesses to easily integrate over 10,000 prepaid offerings, including mobile airtime and digital gift cards, into their applications. With a seamless self-onboarding experience, developers can start within minutes. IDT's President, Emilio del Rio, emphasized the platform's potential to unlock new revenue opportunities in the growing digital prepaid market, which serves over seven billion consumers worldwide.

Positive

• Launch of Zendit platform enhances revenue opportunities for businesses.
• Access to over 10,000 prepaid offerings boosts service diversity.
• Quick self-onboarding process facilitates rapid market entry for developers.

Negative

• None.

API Ecosystem Vastly Simplifies Provisioning of Mobile Top-Up and Other Prepaid Retail Offerings for Global Audiences

Zendit to be Unveiled at Mobile World Congress 2023

NEWARK, NJ, Feb. 23, 2023 (GLOBE NEWSWIRE) -- IDT Corporation (NYSE: IDT), a global provider of fintech, cloud communications, and traditional communications services, today announced the launch of its cloud-based prepaid-as-a-service platform, Zendit. Zendit will be introduced at the Mobile World Congress 2023 (MWC) in Barcelona, Spain, from February 27^th to March 2^nd.

With the Zendit platform, businesses of all sizes, entrepreneurs, and developers will be able to easily add a powerful, global monetization channel to their apps and websites - prepaid offerings curated from a global digital catalog of over 10,000 goods and services including mobile airtime top-ups, mobile data bundles, digital gift cards, and utilities.

“The rapid adoption of digital prepaid services in combination with the extensive reach of mobile - now over seven billion consumers worldwide - is fueling extraordinary growth in the global prepayments space,” said Emilio del Rio, President of IDT Digital Payments. “Now, Zendit’s cloud-based, prepaid-as-a-service platform enables companies to participate in this high-growth opportunity by efficiently integrating cross-border prepaid offerings into their apps and websites in a matter of minutes.”

The Zendit platform can easily scale to meet the needs of businesses and organizations of all sizes while ensuring uptime and availability. It provides a user-friendly and intuitive workflow without sacrificing powerful features and flexibility. The platform will feature a range of tools from APIs and SDKs to no/low-code widgets and plugins that will make it easy for any developer to integrate prepaid offerings with existing systems and technologies.

To enhance speed and ease to market, Zendit offers a seamless self-onboarding experience that simplifies the integration process, enabling developers to access and manage Zendit’s global prepaid catalog within minutes. Developers can head over to zendit.io, open an account, obtain integration credentials, fund their wallets, and go live – all in a matter of minutes.

“Our mission is to enable businesses of all shapes and sizes to unlock new revenue opportunities by building innovative prepaid solutions that attract, engage, retain, and reward their customers worldwide,” del Rio concluded.

MWC attendees are invited to stop by the IDT booth at Congress Square Stand CS24 for a firsthand look and personalized demonstration of the innovative Zendit platform.

About IDT Corporation:

IDT Corporation (NYSE: IDT) is a global provider of fintech, cloud communications, and traditional communications services. We make it easy for families to contact and support each other across international borders. We also enable businesses to transact and communicate with their customers with enhanced intelligence and insight.

Our BOSS Money international remittance, IDT Digital Payments and BOSS Revolution international calling services make sending money, paying for products and services, and speaking with friends and family around the world convenient and reliable. National Retail Solutions’ (NRS) point-of-sale retail network enables independent retailers to operate and process transactions more effectively while providing advertisers and consumer marketers with unprecedented reach into underserved consumer markets. net2phone’s communications-as-a-service solutions provide businesses with intelligently integrated cloud communications and collaboration tools across channels and devices. Our IDT Global and IDT Express wholesale offerings enable communications service enterprises to provision and manage international voice and SMS services.

Contact:
Bill Ulrey
IDT Investor Relations
Phone: (973) 438-3838
E-mail: invest@idt.net

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FAQ

What is the Zendit platform launched by IDT?

The Zendit platform is a cloud-based prepaid-as-a-service solution that enables businesses to integrate over 10,000 prepaid offerings into their apps.

When was Zendit introduced at Mobile World Congress?

Zendit was introduced at Mobile World Congress 2023 from February 27 to March 2.

How does Zendit benefit businesses?

Zendit provides a user-friendly integration process that allows businesses to quickly tap into the growing digital prepaid service market.

What types of services can developers offer through Zendit?

Developers can offer mobile airtime top-ups, data bundles, digital gift cards, and utility payments through Zendit.

What market growth is associated with the Zendit platform?

Zendit is positioned to benefit from the rapid growth in digital prepaid services, which serve over seven billion consumers globally.