BWI: Prizm Payments Picks Postilion for Payments Processing

Press release from Business Wire India
Source: Prizm Payments
Monday, March 02, 2009 05:49 PM IST (12:19 PM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Information technology; Technology
Release no: 19363
--------------------------------------------------
Prizm Payments Picks Postilion for Payments Processing
Indian Payments Services Provider Implements Postilion to Drive ATMs and POS

Mumbai, Maharashtra, India, Monday, March 02, 2009 -- (Business Wire India) -- 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."

About Prizm Payments

Prizm Payment Services Private Limited (Prizm Payments) is a company incorporated in India with an established track record in the payments industry in India and in operation for over 3 years. Prizm Payments is led by a management team with extensive experience in the payments industry and with a leading global private equity firm - Sequoia Capital as a financial investor. Prizm Payments is created to develop a self-sufficient nation-wide modern payments ecosystem for financial institutions, retailers and service providers. Prizm Payments' mission is to be the leader in enabling secure, innovative payments services across electronic channels. For more information visit us at www.prizmpayments.com.

About Postilion

Postilion, a division of S1 Corporation (NASDAQ: SONE), is a leading provider of integrated solutions for self-service banking and payment processing. Our offices, on five continents, serve over 1,500 customers in more than 50 countries. Postilion solutions drive self-service financial transactions and payments, including advanced transactions such as prepay, through Internet access points, ATMs, POS terminals, and phones.

More than 100,000 ATMs and 500,000 POS terminals worldwide run on Postilion solutions. In the United States, over 1,250 credit unions and community financial institutions use Postilion solutions. Built on open systems, Postilion solutions provide consolidated management information, card management, 3DES and EMV enablement, and loyalty management. At the forefront of compliance with new regulations and security enhancements, such as the Payment Card Industry Data Security Standard (PCI DSS) and Visa's Payment Application Best Practices (PABP), Postilion can help customers achieve compliance with the latest data security standards developed by the payment card industry. More information is available at www.postilion.com.

About S1 Corporation

S1 Corporation (NASDAQ: SONE) delivers customer interaction software for financial and payment services and offers unique solution sets for financial institutions, retailers, and processors under three brand names: Postilion, S1 Enterprise and FSB Solutions. Additional information about S1 solutions is available at www.s1.com, www.postilion.com, www.S1enterprise.com, and www.fsb-solutions.com.

Forward-Looking Statements

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act. These statements include statements with respect to our financial condition, results of operations and business. The words "believes," "expects," "may," "will," "should," "projects," "contemplates," "anticipates," "forecasts," "intends" or similar terminology identify forward-looking statements. These statements are based on our beliefs as well as assumptions made using information currently available to us. Because these statements reflect our current views concerning future events, they involve risks, uncertainties and assumptions. Therefore, actual results may differ significantly from the results discussed in the forward-looking statements. The risk factors included in our reports filed with the Securities and Exchange Commission (and available on our web site at www.s1.com or the SEC's web site at www.sec.gov) provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. Except as provided by law, we undertake no obligation to update any forward-looking statement.


CONTACT DETAILS
Sridevi Srivastava, Prizm Payments, +91 9320608810, sridevi.srivastava@prizmpayments.com
Archana Pradhan, Sampark PR, +91 9820330505, archana.pradhan@sampark.com

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, IT, TECHNOLOGY

If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.

Submit your press release at http://www.businesswireindia.com