i2c Integrates Platform with MasterCard’s Mexico Domestic Switch (Sept. 16, 2013)
Sept. 16, 2013
i2c Inc. today announced the completion of a direct integration of its platform with MasterCard’s domestic switch in Mexico, where the cloud-based payments processor sees significant growth opportunities. Redwood City, Calif.-based i2c completed all requirements for certification with MasterCard’s Mexico Domestic Switch service, which i2c says will help accelerate implementations of prepaid, credit and debit card programs throughout Mexico. The connection provides a direct link between i2c’s global payments platform and MasterCard for authorizing, clearing and settling payments in Mexico, speeding up the time needed for financial institutions and program managers to develop and launch payment products, according to i2c.
“Mexico is a market that we are actively working to grow,” an i2c spokesperson tells Paybefore. In May i2c said it achieved the milestone of processing more than $1 billion in payments on cards issued by partner banks in Latin America and the Caribbean during the past year. i2c began focusing on the region beginning in 2011, and in late 2012 announced a collaboration with Banco do Brasil for a reloadable prepaid card targeting Brazilians living abroad, along with several other programs in various stages of development.