Payment processor i2c enables Shift debit cardholders to seamlessly spend alternative currencies, including loyalty points, airline miles, precious metals and bitcoin
REDWOOD CITY, Calif - Tuesday, November 4th 2014 [ME NewsWire]
(BUSINESS WIRE)-- i2c, Inc., a global provider of card processing and emerging financial services solutions, today announced that it is providing the payment processing infrastructure behind Shift Payments' debit card, which allows consumers to make payments in fiat, digital and alternative currencies. The companies have already collaborated to get test cards to market and are working on a global roll out.
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i2c's global processing platform, used by organizations worldwide to offer customized financial products, is the bridge that connects Shift to the existing payments ecosystem. i2c, as a next-generation payment processor, allows Shift to integrate into the authorization stream and existing settlement process with the issuing bank and card network.
“Today, money exists in a variety of different forms, not just traditional fiat currency, but there is no easy or convenient way for consumers to pay for everyday goods and services with these alternative stores of value. Shift is solving this problem with the support of i2c,” says Meg Nakamura, co-founder and chief executive of Shift Payments. “By working with i2c, Shift gains access to a global payments technology platform that offers end users the benefits of best execution and greatest acceptance,” says Nakamura.
Stephan Koukis, senior vice president, Business Advisory Group at i2c, comments, “We are at a point in time when consumers are driving the evolution of financial services. By giving consumers more choice and control in spending their money, Shift is delivering exactly what the market is requesting right now. We are excited to be partnering with Shift to establish a blueprint for enabling consumers to pay using alternative funding sources, such as loyalty points, airline miles, gold and other precious metals, bitcoin, and any alternatives that may exist in the future.”
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.
Director, Marketing & Communications