Payment Processor i2c Enables Shift Debit Cardholders to Seamlessly Spend Alternative Currencies, Including Loyalty Points, Airline Miles, Precious Metals and Bitcoin
REDWOOD CITY, Calif. – Nov. 3, 2014 – i2c Inc., a global provider of card processing and emerging financial services solutions, today announced that it is providing the payment processing infrastructure behind Shift Payments’ debit card, which allows consumers to make payments in fiat, digital and alternative currencies. The companies have already collaborated to get test cards to market and are working on a global rollout.
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i2c’s global processing platform, used by organizations worldwide to offer customized financial products, is the bridge that connects Shift to the existing payments ecosystem. i2c, as a next-generation payment processor, allows Shift to integrate into the authorization stream and existing settlement process with the issuing bank and card network.
“Today, money exists in a variety of different forms, not just traditional fiat currency, but there is no easy or convenient way for consumers to pay for everyday goods and services with these alternative stores of value. Shift is solving this problem with the support of i2c,” says Meg Nakamura, co-founder, and chief executive of Shift Payments. “By working with i2c, Shift gains access to a global payments technology platform that offers end users the benefits of best execution and greatest acceptance,” says Nakamura.
Stephan Koukis, senior vice president, Business Advisory Group at i2c, comments, “We are at a point in time when consumers are driving the evolution of financial services. By giving consumers more choice and control in spending their money, Shift is delivering exactly what the market is requesting right now. We are excited to be partnering with Shift to establish a blueprint for enabling consumers to pay using alternative funding sources, such as loyalty points, airline miles, gold and other precious metals, bitcoin, and any alternatives that may exist in the future.”
About i2c Inc.
i2c is a global provider of highly-configurable banking and payment solutions. Using i2c's proprietary building block technology, clients can easily create and manage a comprehensive set of solutions for credit, debit, prepaid, lending and more, quickly and cost-effectively. i2c delivers unparalleled flexibility, agility, security and reliability from a single, global SaaS platform. Founded in 2001, and headquartered in Silicon Valley, i2c's next-generation technology supports millions of users in more than 200 countries/ territories and across all time zones.
For more information, visit i2cinc.com and follow us at @i2cinc.