FOR IMMEDIATE RELEASE
Board expanded as industry faces new regulatory and business challenges
London - International trade association Prepaid International Forum (PIF) today celebrates five years of operation at a Summit attended by PIF members and delegates representing a wide range of industry participants. The event takes place against a background of change as the industry worldwide faces new opportunities as well as regulatory challenges.
Speaking in advance of the Summit, PIF Chairman Robert Courtneidge explained the forum’s evolving proactive stance on behalf of an increasingly important industry sector in many developed and developing economies. He said “The banking industry has been hit by scandal after scandal, be it LIBOR fixing, IT failures or rogue trading losses. In this context, PIF stands up for the prepaid industry in the face of increasingly intrusive regulators. What’s more, PIF is delivering stronger business models, thereby ensuring our prepaid businesses are robust, and we are taking steps to counter criminal attacks via our newly introduced fraud matrix. Our Board has tripled in size, better enabling us to anticipate new issues and to react quickly as they arise.”
Against this background, the Summit, held at the South Lodge Hotel in West Sussex, will consider key challenges facing the industry today. Presentations will include an overview of the implementation of prepaid solutions in markets around the world with specific reference to emerging trends and opportunities for growth, an examination of how the potential for prepaid may be fully unlocked, a review of the legal and regulatory landscape and a consideration of mitigation strategies and best practice in managing fraud and risk. The Summit concludes with an open forum on ‘The Way ahead for Global Prepaid 2013’.
Anticipating a lively discussion at the Summit, Mr Courtneidge commented “Much has been achieved in the past five years but today is more about looking to the future and the global challenges facing the industry. These events provide an ideal opportunity for the industry to help chart a course forward in what is a challenging but also exciting era for prepaid.”
Prepaid International Forum (PIF) is a not-for-profit trade association established in 2007 to represent all parties participating on a commercial basis in the prepaid economy. It is dedicated to the progression of prepaid commerce around the world and acts as a principal point of liaison between the prepaid economy and government agencies, regulators, consumer bodies and the media. It is focused on the entire prepaid world and facilitates the development of cross-industry guidelines and codes of practice.
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