With a population of 1.2 billion individuals, an increasing number of young adults and with only around 20 percent of adults having a payment card of any kind, India represents an attractive market for providers of prepaid solutions. Already, some prepaid operators have been quick to introduce solutions such as prepaid cards, gift cards, multi-currency travel cards, meal and payroll cards. PIF India aims to address the key areas of interest to the entire prepaid industry in the region through highly focused and interactive study and working groups in the areas of business models, law and regulation and consumer education. Inaugural Meeting Highlights The inaugural meeting of PIF India took place in Mumbai on 7 August 2009. The meeting was attentended by around thirty representatives from 16 separate organisations. Participants welcomed the opportunity to talk openly and to hear different perspectives on the industry. Key issues discussed included the need for a prepaid standard, a low-cost technology and operations solutions, a profitable scaleable model for prepaid and regulatory issues for RBI (Reserve Bank of India) consideration. It was agreed that PIF India will operate three working groups covering Business Models, Legal and Regulatory and Consumer Education. The Executive Committee of PIF India comprises Sachin Khandelwal, Senior General Manager, ICICI Bank and PIF India Chairman, Amit Sethi, Managing Director TSYS India and South Asia and PIF India Co-Chairman and Michael Lafferty, PIF Co-Founder and Director and Chairman of Lafferty Group. | 
