The digital payment and banking technology provider i2c has selected Visa as its fintech processor for its expansion into the Middle East and North Africa (MENA) region.
i2c and Visa partnered into first of its kind agreement for onboarding fintechs in the MENA region, providing modern payment and processing services.
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 payments technologies.
“We are honoured to have partnered with Visa for fintech onboarding in the MENA region,” said Amir Wain, CEO of i2c.
“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.”
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.
Using i2c’s proprietary ‘building block’ technology, MENA clients will be able to create and manage solutions for credit, debit, prepaid and lending. i2c provides a level of flexibility, agility, security and reliability through its single SaaS platform.
Founded in 2001 and headquartered in Silicon Valley, i2c’s technology supports users in more than 200 countries and across all time zones.
“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,” added Andrew Torre, regional president, CEMEA, Visa.
“We are looking forward to working closely with i2c to accelerate the speed with which fintechs across the MENA region can create innovative payment solutions, built on the foundation of the Visa network.”