i2c partners with Solid to offer issuing processing solutions
Commercial payments companies around the globe have invested in infrastructure to cater for the needs of the exponential increase in digitization of small and medium businesses.
This week, i2c, a California-based digital payments fintech, has announced a partnership with Solid which is a fintech as a service platform (FaaS) to provide streamlined access to banking, payments, and card services to various companies.
Solid by working with i2c would offer MEs, FIs, and neobanks a compliant, managed solution to support a variety of payments use cases on a single, digital-first platform, said the press note. This would also help clients to leverage simple APIs to launch their curated programs since the company has an ‘extensive network of sponsor banks and fintech partnerships de-constitutes traditional banking buildouts’.
Earlier this year, i2c announced a string of partnerships with Archa, Community Bank of the Chesapeake (CBTC) and Credit Sesame.
The i2c’s VP Fintech Business Development, Sarah Flood in the press note said that both the companies are aligned that the future of financial services lies in ‘unlocking its complexity for fintechs of all sizes to offer embedded payments solutions at the quickest time to market’.
The combined platform and software capabilities of the two companies would allow businesses and third parties to build and launch deposit products, such as business and consumer checking accounts, instantly issue debit, credit, and prepaid cards both physically or virtually, and process transactions in real-time.
In other news, i2c has announced that the company is now certified on the Mexican payments network, Prosa, which the company said would help to solidify its growth in the Latin American region.
With this, the company marks the expansion of its presence in the Mexico region and ‘with the ability to enable highly-configurable payment and banking solutions including debit, credit, cross-border or instalment type products for consumers and small business users’.
i2c provides consumer credit, commercial credit, BNPL, card issuing, digital banking and cryptocurrency services to all host of clients.