Global payments solutions provider, Yalamanchili, today announces that its next generation payments platform is powering the EZ-Link Imagine American Express Prepaid Card launched in Singapore last month.
By integrating Yalamanchili's payments platform with its existing infrastructure, EZ-Link is able to provide programme management services, enabling it to create and manage a winning prepaid card solution.
Tailored for young adults in Singapore, the Imagine Card was launched together with a mobile app that gives users the opportunity to upload an image of their ID Documents in order to satisfy Know Your Customer (KYC) requirements on the card. When registering the card in this way users will automatically extend the Imagine spending purse limit to 1,000 Singapore dollars. The KYC registration will also enable users to top up the card as often as they wish and create a verifiable security link back to the card in case it is lost or stolen.
Nicholas Lee, Chief Executive Officer at EZ-Link, comments: "The flexibility and control that the Yalamanchili platform provides is delivering real competitive advantage. Our prepaid team has direct access to the platform and is able to easily implement product updates and changes. The net result is the capability to define and deliver products within a timeframe which maximises the opportunity for success in what is a constantly evolving end user marketplace. EZ-Link Imagine American Express Prepaid Card is the second prepaid product that EZ-Link has launched using Yalamanchili's outsourced payment platform. We are delighted with the results."
Ramakrishna Yalamanchili, Founder and CEO, Yalamanchili, adds: "The versatility of the Imagine Card demonstrates what can be achieved on the Yalamanchili payment platform. EZ-Link has created a truly innovative prepaid card solution that is not only the first American Express contactless prepaid card, but also provides cash rebates on transport passes and two separate spending purses. We are thrilled that our next generation platform has also been launched with EZ-Link and look forward to future projects together."
Yalamanchili has been providing prepaid soolutions to EZ-Link since April 2009. Its payments processing solutions are in worldwide use across a wide range of sectors, including retail, banking, transit, corporate, government and healthcare.