i2c Passes $1 Billion in Latin America, Caribbean Processing (May 9, 2013)
Payment processor i2c Inc. has processed more than $1 billion in payments on cards issued by partner banks in Latin America and the Caribbean over the past year, the company said this week. “We started focusing on [the region] just over two years ago and our $1 billion milestone is evidence of the momentum our global platform has gained,” said Miguel Cintron, vice president, business development, i2c.
The Redwood City, Calif., company’s recent expansion efforts in the region include a December 2012 collaboration with Banco do Brasil to launch a reloadable prepaid card targeted for use by Brazilians living abroad. In March 2012, the firm inked a multi-year agreement with Antigua-based North International Bank to provide processing for the bank’s credit, debit and prepaid card portfolio. Most recently, i2c struck a deal last month with Aerocash, a payment card and loyalty program manager, to provide loyalty management technology to Aerocash’s retailer and financial institution clients throughout Latin America. For more on i2c’s global expansion, see the Spring issue of Pay Magazine, coming out this month.