i2c Partners with Visa for Fintech Processing in MENA Region

Rhea-AI Summary

i2c has formed a strategic partnership with Visa to streamline fintech onboarding in the MENA region. This collaboration grants fintechs access to Visa's vast network and i2c's advanced payment processing solutions, enabling quicker market entry for innovative financial products. The initiative aims to address the needs of around 680 million unbanked individuals and 60 million unutilized merchants in the region, enhancing financial inclusion and innovation.

Positive

• Partnership with Visa enhances fintech onboarding capabilities.
• Access to Visa's global network, facilitating quicker market entry.
• Improved product offerings, including virtual cards and cryptocurrency.

Negative

• None.

i2c and Visa partnered into first of its kind agreement for onboarding fintechs in the MENA region, providing for modern payment and processing services

REDWOOD CITY, Calif.--(BUSINESS WIRE)-- i2c Inc., a leading provider of digital payment and banking technology, today announced its partnership with Visa, the world's leader in digital payments, as fintech processor in the MENA (Middle East and North Africa) region.

Through this arrangement, fintechs in the region will be able to access Visa’s global network as well as i2c’s agile issuing and processing platform by tapping into the combined companies’ suite of digital-first solutions and advanced payments technologies.

“We are honored to have partnered with Visa for Fintech Onboarding in the MENA region,” said Amir Wain, CEO of i2c Inc. “This agreement will allow the region’s financial visionaries to go-to-market quicker and to innovate across a broad range of products and features including virtual cards, debit, prepaid, credit, BNPL, cryptocurrency, loyalty and more – and to do it securely and reliably,” he added.

“We see great opportunity to further accelerate financial access and drive innovation in emerging markets, and are proud to be working with leading partners who bring deep market understanding and fintech expertise,” said Andrew Torre, Regional President, CEMEA, Visa. “We are looking forward to working closely with i2c to accelerate the speed with which fintechs across the Middle East & North Africa region can create innovative payment solutions, built on the foundation of the Visa network.”

This agreement comes at a time of unprecedented fintech growth in the region with an estimated 680 million unbanked persons and 60 million untapped merchants in CEMEA.

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at About Visa, visamiddleeast.com/blog and @Visamiddleeast.

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 www.i2cinc.com and follow us at @i2cinc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220329005788/en/

Heather Clifton

Chief Marketing Officer

media@i2cinc.com

Source: i2c Inc.

FAQ

What is the partnership between i2c and Visa focused on?

The partnership focuses on fintech onboarding in the MENA region, providing access to advanced payment and processing services.

How does the i2c and Visa partnership impact fintechs in MENA?

The partnership allows fintechs to go-to-market faster with innovative products and tap into Visa's extensive network.

What are the opportunities presented by this partnership?

It targets approximately 680 million unbanked individuals and 60 million untapped merchants in the MENA region.

When was the partnership between i2c and Visa announced?

The partnership was announced on March 29, 2023.

What types of products can fintechs develop through this partnership?

Fintechs can develop diverse products including virtual cards, debit, prepaid, credit, and cryptocurrency solutions.