NEW YORK, Dec. 5, 2011 /PRNewswire/ -- Genpact Limited (NYSE: G), a global leader in business process and technology management, today announced an agreement with PreCash, a rapidly-growing provider of expedited payment systems and other payment services.
Through this engagement, Genpact will enable PreCash to respond to its increasing volume of payment processing transactions. Leveraging Genpact's ability to scale and drive end-to-end process excellence encapsulated in its proprietary Smart Enterprise Processes (SEP(SM)) framework, PreCash will now be able to accelerate its growth with existing customers and onboard new customers at a much faster rate. Additionally, PreCash will utilize Genpact's extensive data analytics to help broaden the breadth of products and services that it delivers to the market.
"Genpact's expertise in payment processing, financial services operations, and customer service, along with a scientific approach to process and operational rigor, is already helping PreCash manage and drive growth," said Steve Taylor, CEO of PreCash. "Our payment volume is growing at a sizable rate. Genpact is providing the flexibility and scalability we need to manage the growth while enhancing the efficiency of our payment processes and the quality of services we deliver to our clients."
Genpact is focused primarily on managing processes for the PreCash Billocity Expedited Bill Payment Service. Banks, merchants and other businesses that offer bill payment services to consumers use Billocity to process the payments faster and transform the cost of accepting the payment into a source of revenue. Billocity helps consumers avoid late fees, service disruptions and negative credit ratings while allowing banks, retailers, payment processors, and payment consolidators to offer consumers an expedited payment at little to no cost.
"With this exciting partnership with PreCash, Genpact continues to strengthen its relationships in the growing payments and prepaid debit card market," said Tiger Tyagarajan, president and CEO, Genpact. "We look forward to helping PreCash continue on its aggressive growth path of providing innovative payment solutions to financial institutions, merchants and consumers. More and more, companies are looking to partner with us to leverage scale and drive operational excellence that then helps them to drive growth."
About PreCash, Inc.
PreCash improves lives and business through payments and is a leader in payments services and transaction processing. We help cash-paying and underserved people access mainstream financial services, help financial institutions deliver their customers faster transactions, and help our partners generate revenue and build stronger bonds with consumers. We offer bill payment processing solutions, walk-in payments services, Visa® prepaid card and MasterCard® products and solutions and mobile financial solutions for service providers, financial institutions, consumers, the mobile industry, retailers and more. PreCash serves more than 3 million consumers and touches more than 2 billion dollars in payments annually. Our products are serviced in more than 100,000 retail locations nationwide. Founded in 1998, PreCash is headquartered in Houston, Texas, with additional offices in Portland, Oregon. For more information, visit www.PreCash.com.
Genpact Limited (NYSE: G), a global leader in business process and technology management services, has developed a science behind superior business processes. Genpact's unique process thought leadership captured in its Smart Enterprise Processes (SEP(SM)) framework, combined with deep domain expertise in multiple industry verticals, delivers better business outcomes across the enterprise, rather than simply providing efficiency gains within a single function. Genpact's Smart Decision Services deliver business insights to its clients through targeted analytics, reengineering expertise, and advanced risk management. Genpact makes technology more intelligent by embedding it with these process and data insights in addition to providing a wide range of technology services. Built on a legacy of serving GE for more than 14 years, Genpact enables companies worldwide to make smarter decisions, helping them drive revenue growth, compete more successfully, mitigate risk effectively, and improve operating margins and working capital. Driven by a passion for process and operational excellence based on its Lean and Six Sigma DNA, the company's 53,000+ professionals around the globe deliver world-class business process and technology management services everyday to its more than 600 clients - from a network of 51 delivery centers across 17 countries supporting more than 25 languages. For more information, visit www.genpact.com, Follow Genpact on Twitter, Facebook and LinkedIn.
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SOURCE Genpact Limited