i2c Asia Pacific Expansion Shows Scalability Matters in Global Payments
By i2c inc.
Read Time : 05 Min
Today’s consumers and brands are demanding more from the payment experience than just a monetary transaction. They are looking for innovative, relevant, and personalized solutions like advanced digital capabilities, customized card features, and improved engagement options. Surprisingly, these are not standard offerings from the majority of global payment processors. Being able to rapidly deploy these capabilities into new markets and geographies in a cost-effective way defines the next generation of payment processing. This may sound revolutionary, but i2c has actually has been doing this for quite a while. The key to our success is a highly scalable cloud-based platform that serves a global customer base.
Recently, we announced a new partnership with TIS, one of Japan’s largest payments providers and a significant player across the Asia Pacific region, where it provides end-to-end IT solutions for 3,000+ banks and card issuers. TIS is adopting the i2c platform as its standard for prepaid card processing in Japan and for future expansion of credit and debit card payment processing in key Asian markets. TIS chose i2c because our platform can combine ongoing payments innovation with the ability to easily scale up or down based on individual market needs. TIS’s relationship with i2c confirms the importance of this approach for the next generation of payments innovation, and this has both global and local implications. We are both honored and excited to be working closely with them as we expand across the Asia Pacific region.
Across many geographies, banks and brands look to the i2c platform for “mass customization” because they are simply not finding that capability in local providers or in global firms that are unable to innovate at scale. For example, Oxfam was looking for a unique set of payment card features to first serve the Philippine market and then scale the solution globally. Oxfam chose the i2c platform because of its ability to rapidly configure and deliver financial products that could be customized to the needs and preferences of a specific brand’s customers in a localized region, and then subsequently deployed to other parts of the world. As Oxfam discovered during their search for a payment platform, most local providers or in-house solutions are not flexible enough to deliver robust solutions tailored to the needs of a discrete market. It is also challenging to alter feature sets when trying to expand to new markets. That’s what makes our platform truly global; when we add new capabilities or create new features to meet local requirements, the improvements become available to all of our customers around the globe.
Why build a solution in-house when one is already available at a fraction of the cost it would take to build? How do I differentiate my market offering with a provider selling large-scale but one-size-fits-all processing that is designed and optimized for commodity processing and not for innovation? These are the types of questions local and regional market players like Oxfam and TIS are asking themselves, and i2c is providing the right answers to meet this growing market dynamic. For the past decade, i2c has been delivering to acquirers, issuers, and program managers prepaid debit, and credit solutions that can be scaled up or down and customized to the needs of any target market.
