PIF is a not-for-profit trade association which represents all parties participating on a commercial basis in the prepaid industry. Ramki will join the existing Board members, in working to develop cross-industry guidelines and guiding principles to encourage best practices for profitable and ethical participation in the prepaid economy.

Yalamanchili's payments processing solutions are in use globally across a wide range of sectors, including retail, banking, transit, telecommunications, corporate, government and healthcare. With close to a decade's experience in the global prepaid market, Ramki brings a truly international perspective to the association and will help to expand the level of knowledge and understanding of this sector to the benefit of stakeholders at each level.

Robert Courtneidge, Chairman, PIF, comments: "I am delighted to welcome Ramki to the Board of PIF. His experience of working in numerous prepaid markets around the world will enable him to bring new perspectives and insight to the work of the association. We look forward to furthering our relationship with both Ramki and the wider Yalamanchili organisation."

Yalamanchili differentiates itself by empowering 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 places far greater control and product flexibility in the hands of issuers, programme managers, clients and their customers throughout the lifecycle of the product, and dramatically reduces the cost and lead time required to bring a card product to market.

Speaking about his appointment, Ramki adds: "It is a privilege to be welcomed to the Board of an association that has such a profound influence in developing prepaid as a payment product across a variety of industries. Yalamanchili has always focused on listening to its client needs and empowering them to implement innovative programmes that add value to the end user. As part of PIF, Yalamanchili will share its knowledge and experience to help the association achieve its objectives. I look forward to working alongside Board members and PIF participants in steering a positive course for prepaid, both in Europe and around the world."

With recent reports stating that the global prepaid market will continue to grow at an annual rate of 22 percent through 2017*, key players in the industry are starting to work together to shape and influence market growth. Through its working groups and dedicated geographical chapters, PIF creates a platform for its members to drive the creation of international standards and a unified industry.