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.
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.
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.