24 May 2012, London - The European payment processing market today faces considerable disruption following the European launch of Yalamanchili, an Asian born multinational payments processor that takes a radical new approach to the delivery of card payment processing solutions.
Unlike other European payment processors, Yalamanchili provides retail banks, card programme managers and their customers with the tools and services needed to create and manage their own card products liberated from the constraints of the legacy processor model. This approach dramatically reduces the cost and lead time required to bring a card product to market and places far greater control and product flexibility in the hands of both issuers and programme managers throughout the lifecycle of the product.
“Because prepaid products require different processing systems to traditional debit and credit schemes, many European banks are struggling to find a way to profit from the sector, despite growing demand amongst end users,” comments Chris Ellis, Head of European Region, Yalamanchili. “This is inhibiting the growth of the prepaid market. Yalamanchili is tackling this problem head on. Its approach provides a processing infrastructure specifically designed to support prepaid, allowing customers to focus on designing innovative and profitable products without worrying about the cost and complexity of the processing.”
Since the company’s inception in India in 1998, Yalamanchili’s outsourced prepaid solutions have grown in popularity amongst financial, public and private sector customers and have fuelled the company’s expansion across Asia Pacific, the Middle East, Africa and into the US. The company’s systems have evolved around the needs of its customers, resulting in the development of a modular infrastructure that can be tailored to address a variety of processing headaches that are currently inhibiting the development of the market in Europe.
“No other payments processor in Europe is able to offer this level of flexibility,” adds Ellis. “Our current mission is to empower programme managers, corporates and banks to create higher callibre, more sophisticated prepaid products in a fraction of the time currently required. By applying Yalamanchili’s global knowledge of prepaid systems to Europe, we aim to change the dynamics of the market entirely.”
Yalamanchili’s payments processing solutions are in worldwide use across a wide range of sectors, including retail, banking, transit, corporate, government and healthcare.
For further media information, please contact Paul Rogers or Kirsty Pearson at iseepr: paul@iseepr.co.uk / kirsty@iseepr.co.uk or on + 44 (0) 1943 468007