Postilion, a leading provider of software solutions for self-service banking and payments and a division of S1 Corporation (Nasdaq: SONE), today announced that Prizm Payments, a service provider based in India, has implemented a Postilion payments processing platform.
Prizm Payments provides secure payments services for financial institutions, retailers, and service providers, across multiple electronic channels.
Following the rapid growth of the Indian payments market, Prizm Payments identified an opportunity to offer innovative ATM and POS services to financial institutions and retailers. The Prizm Payments management team has extensive experience in the industry, incorporates an established maintenance and services operation with 43 facilities across India, and is backed by a leading global private equity firm, Sequoia Capital, as a financial investor.
As the provider of the world's most widely deployed open-systems payments software solution driving over 100,000 ATMs and 500,000 POS devices worldwide, Postilion allows Prizm Payments to establish a world-class ATM and POS network across India. Prizm Payments will introduce a comprehensive payments services infrastructure to India, comprising of retail ATMs, POS services, third-party maintenance services, and prepaid card services.
"Postilion will be helping us to deliver improved ATM, POS and card services to financial institutions and retailers in the Indian market," explained Loney Antony, Managing Director of Prizm Payments. "We understand the importance of providing customers with a reliable, high performance, innovative and secure service, and these were the key factors that motivated our choice of Postilion. We aim to differentiate ourselves by providing leading edge value-added services across all channels. Postilion's modular approach allows us to bring these new services to market faster, thus maximizing our investment."
"Having been traditionally dominated by cash, the Indian payments market has seen significant change and growth which has presented many opportunities for players in the payments industry," commented Steve Kirrage, Senior Vice President and General Manager, Postilion Middle East and Southern Europe. "Postilion solutions are an ideal fit with Prizm Payments' business model, and we are pleased to be working with them in their venture."