Both Companies Set to Expand Within China’s Burgeoning Electronic Payments Market
Redwood City, California — May 30, 2012— i2c, Inc., a payment processing technology company, and KargoCard, a Shanghai-based prepaid service provider, have partnered to deliver prepaid, mobile payment and loyalty solutions to merchants in China. i2c will provide payment processing services to enable KargoCard to offer a robust suite of products within China.
“KargoCard is an established leader in their market with a rapidly growing distribution network, strong management team and an impressive client list,” said Amir Wain, CEO of i2c. Their drive to revolutionize the Chinese payments industry aligns perfectly with i2c’s commitment to bring innovation to global payments.”
In a recent report by Mercator Advisory Group, China was estimated to be the world’s largest prepaid market in terms of market potential. With several high-profile clients like Beard Papa, Happy Lemon and Cloud Nine, KargoCard is set to grow exponentially in this market. To support KargoCard and i2c’s growing presence in the Asia-Pacific region, i2c is building out a new data center in Shanghai.
“Our tremendous growth and aggressive expansion plans require an established processing platform that offers superior flexibility and scalability. i2c’s platform provides this, as well as a rich feature set that will allow us to better serve our customers,” said KargoCard CEO David Suzuki.
About i2c Inc.
An award-winning global financial technology innovator powering credit, debit, prepaid, core banking, and money movement solutions, i2c unifies banking and payments in an all-in-one platform, transforming product personalization with a customer-centric architecture and accelerating speed-to-market with composable building-block solutions. Financial institutions and fintechs globally trust i2c to help them quickly and efficiently configure and scale differentiated financial offerings in an evolving, competitive market. Powered by innovation and driven by trust for more than 24 years, i2c blends modern ingenuity with expert reliability to supercharge exceptional banking and payments experiences for millions of users and billions of transactions worldwide.
For more information, visit i2cinc.com and follow us at @i2cinc.
About KargoCard
KargoCard is the industry leader in the processing and distribution of prepaid cards in China. KargoCard specializes in marketing and promotion of prepaid and loyalty/membership cards for China’s large-scale brands. KargoCard’s proprietary platform for advanced processing has enabled China’s nationwide brands to offer world-class prepaid products. Headquarted in Shanghai, China, the company is privately held with venture backing from the CID GROUP and Global Catalyst Partners. www.kargocard.com.