i2c Supports Boom Financial’s Mobile Money Service
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 i2c, Inc.
From its Silicon Valley headquarters, i2c provides the infrastructure financial institutions, corporations, brands, and governments around the world need to launch and profitably manage payment and next-generation commerce products. i2c’s global, cloud-based platform supports virtually any prepaid, debit, or credit program in plastic, virtual, or mobile form. Clients on six continents use the i2c platform to build profitable, differentiated payment products and services that meet unique customer needs. For more information go to www.i2cinc.com.
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.
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