Prizm Payments honored with VCCircle's venture capital-backed IT Company of the year award

The VCCircle awards aims to recognize and celebrate the impact of private equity and venture capital on Indian businesses

Mumbai, Maharashtra, February 16, 2012 /India PRwire/ -- Prizm Payments, a leading Electronic Financial Transaction Services (EFT Services) provider has been recognized as the winner in "venture capital-backed IT company category award 2012" by VCCircle in its debut edition held in New Delhi. The venture capital (VC)-backed company of the year award is given to a player that has not only shown tremendous growth in their respective industries but also had a longstanding impact on the economy in general. In addition, companies who have had at least one round of funding between 2007 and 2011 were considered for this year's awards. The VCCircle awards aims to recognize and celebrate the impact of private equity and venture capital on Indian businesses.

Prizm Payments is led by a team of industry veteran professionals turned entrepreneurs, with its focus on developing innovative technology and service offerings in the payments and electronic transaction space to banks and retailers. It has established leadership in the ATM and POS deployment, management and maintenance. In 3 years it boasts of an impressive track record of managing and maintaining close to 9,500 ATMs, 20,000 POS devices for major banks and retailers in the country via its network of 8 offices, 93 service depots and 700+ staff covering 600 points of presence. In addition to its ultra-modern Central Operations Centre in Chennai, Prizm Payments differentiates itself through a unique Data Analytics Team, Multi-Vendor Maintenance outfit, In-house development capability and state-of-the-art technology platform.

Mohit Bhatnagar, Managing Director, Sequoia Capital said, "The Prizm founders represent what Indian entrepreneurship is all about - strong execution and a relentless focus on business fundamentals. This A+ team of entrepreneurs has created an impact on the ATM/POS industry by pioneering innovative business models partnering with Indian Banks"

"We are privileged to be recognized for our innovation in service delivery and our technology capability. Prizm Payments is a pioneer in the independent ATM and POS deployment and management space and has demonstrated unparalleled growth over the past 3 years thanks to among other things, strong backing of venture capital from Sequoia Capital. This award reiterates our vision to be a leader in enabling secure and innovative payments services across electronic channels," said Loney Antony, Managing Director, Prizm Payments.

Notes to Editor

About PRIZM Payments

Prizm Payments is a leading financial services provider with a vision to be "a leader in enabling secure‚ innovative payment services across electronic channels". Prizm Payments was formed in 2008 by the coming together of a very capable management team with collective experience of 150+ years in EFT Services‚ an investment from one of the world's leading Private Equity companies - Sequoia Capital and the acquisition/ integration of Integrated Maintenance and Services Pvt Ltd (IMAS) - a leader in 3rd party ATM maintenance services. Since then Prizm Payments has grown to becoming a leader in the providing innovative financial services with over 9,500 ATMs deployed and under management and maintenance, 20,000+ POS devices under management. The network is managed by 700+employees in 8 offices and 93 service locations covering 600 points of presence across the country. To know more go to: http://www.prizmpayments.com/

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