Global payment solutions provider, Yalamanchili, today announces that its next generation payments platform has been utilised by Singaporean prepaid card giant, EZ-Link to provide the payments processing capability behind the recently launched contactless M1 Prepaid MasterCard.
The card, a co-branded collaboration between EZ-Link, MasterCard Worldwide and telecommunications provider M1 Limited (M1), a leading provider of mobile, broadband and fixed communications services in Singapore, is the first prepaid product in Singapore that integrates voice (telephony), global retail, and transportation contactless payments all in one card.
EZ-Link has integrated Yalamanchili's payment processing platform into its existing infrastructure, enabling it to create and manage the development and launch of prepaid card products. Using Yalamanchili's platform, EZ-Link has delivered programme management services to its telecommunications partner M1, resulting in the launch of the M1 Prepaid MasterCard. The innovative new card combines the convenience of three prepaid cards into one, enabling users to top up M1's existing prepaid mobile M Card, make contactless payments for public transport and make every day purchases using the MasterCard payment facility.
Nicholas Lee, Chief Executive Officer at EZ-Link, comments: "Yalamanchili's payment processing platform has supported EZ-Link's prepaid business since April 2009. Its modular system provides EZ-Link's prepaid team with backend access and more control over the payment process. It also reduces the time needed to bring our allied prepaid products to market. These enhancements enable EZ-Link to offer a wider variety of more sophisticated services to our customers, presenting us with new opportunities to generate revenues."
Ramki Yalamanchili, Chief Executive and Founder of Yalamanchili, adds: "The M1 Prepaid MasterCard is EZ-Link's first solution to be underpinned by Yalamanchili's outsourced processing platform. Our intention for EZ-Link was always to empower the organisation to innovate beyond its current capabilities. Our platform enables organisations like EZ-Link to launch highly customised, self-serviced, prepaid programmes in a matter of days. This means our users are free from technical constraints and can focus on innovation and profitability in the prepaid solutions they deliver for their customers."
Yalamanchili has been providing prepaid solutions to EZ-Link since April 2009 and supported the successful implementation and launch of the FEVO prepaid MasterCard®. Its payments processing solutions are in worldwide use across a wide range of sectors, including retail, banking, transit, corporate, government and healthcare.