Global Prepaid Payments Processor Yalamanchili Launches in Europe
Yalamanchili, an Asian multinational payments processor, has launched in Europe. The company 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,” said 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.”