|
Mumbai: International trade association, Prepaid International Forum (PIF), has announced that it will launch a new PIF India Chapter in Mumbai on August 7.
The India Chapter is likely to have visitors from card issuers, banks, other commercial associations and regulators.
ICICI Bank’s Head Cards Group Vinayak Prasad stated, “Recent trends in pre-paid and debit cards indicate a growing acceptance of plastic in India. India has a large opportunity to service with innovative solutions in remittance, fleet, Government benefits and tolling solutions among others. We are hopeful that the Forum will bring in the desired impetus in the current market.”
With a population of 1.2 billion and an increasing number of young adults with only around 20 per cent having a payment card of any kind, India represents an attractive market for providers of pre-paid solutions.
The release added, “Already, some pre-paid operators have been quick to introduce solutions such as pre-paid cards, gift cards, multi-currency travel cards, meal and pay-roll cards.”
Amit Sethi, Managing Director, India and South Asia, TSYS (an outsourced payment services company) said, “The launch of a new India Chapter represents global recognition of India as an emerging pre-paid market with tremendous potential for growth and financial inclusion.”
|
