Text-based remittance service launched on i2c’s global payments platform

REDWOOD CITY, Calif. – August 27, 2013 – i2c, Inc., a Silicon Valley-based provider of cloud payment processing and emerging commerce solutions, today announced that Boom Financial, the company revolutionizing how immigrant and unbanked families save and share their money, has implemented its global payments platform. The implementation enables Boom Financial customers to receive remittances on a mobile phone, which can be accessed with a prepaid card to make purchases, withdraw cash, and transfer funds to other accounts. Haiti is the first country to live with the service.

Boom Financial offers a simple, cost-effective way for immigrant, unbanked, and underbanked populations to share, save, and spend their money. Users of the service can send money through mobile text messages to recipients who receive the money on a prepaid card. By replacing cash transactions with mobile and emerging financial services, Boom Financial customers can better manage and protect their money while paying less for money transfer services.

“We are committed to making it easier and more cost-effective for people to share their hard-earned wealth with family and friends, anywhere in the world,” said Bill Barhydt, chief executive officer at Boom Financial. “It is important for us to scale Boom into multiple countries with a single global platform capable of supporting all languages and currencies. i2c was the only processor we looked at that had this capability.”

i2c Chief Executive Officer, Amir Wain, commented, “Boom Financial’s service solves real problems for immigrant communities and the financially underserved. It is a great example of how prepaid and mobile can come together on a global scale to produce tangible value for consumers. i2c is pleased to be providing Boom Financial with the processing infrastructure to enable this.”

About Boom Financial

Boom Financial has revolutionized how families save, share, and spend their monies on a global scale with Boom’s payments and money transfer alternative for the U.S. immigrant population and their extended families. In 2011 Boom Financial, together with the U.S. State Department, co-founded the International Diaspora Engagement Alliance (IdEA) to engage Diaspora communities in the United States. Founded in 2008 as m-Via, Boom Financial is headquartered in Mountain View, California, with offices in LA, Miami, and Port-au-Prince.

About i2c Inc.

i2c is a global provider of highly-configurable payment and banking 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.

Media Inquiries:

Terri Thibodeaux
Director, Brand and Corporate Marketing, i2c media@i2cinc.com