i2c to Provide Processing for New Japan Prepaid Card (Jan. 15, 2014)
Prepaid processor i2c Inc. will launch a new prepaid card in Japan in partnership with Shinsei Bank and CardFlex Japan, a subsidiary of Japanese electronics and media retailer Tay Two Corp. The announcement of the reloadable Tay Two Visa follows a global partnership i2c struck with Visa Inc. in November to bring prepaid products to regions including Asia-Pacific.
i2c will provide processing for the new card, with CardFlex serving as program manager and Shinsei Bank as BIN sponsor. “As more Japanese consumers demand cashless payment options, we expect the opportunity for prepaid in Japan to grow dramatically,” said Kaoru Arai, CEO, CardFlex Japan.
And for i2c and its partners, the Tay Two card is just the beginning. The companies said they plan to roll out additional prepaid and gift card programs in Japan over the coming years. Back in 2007, i2c inked a strategic alliance with CardFlex Japan’s U.S. affiliate, CardFlex Financial Services, to provide transaction processing services for the Orange County, Calif., company.