Fintech solutions provider Euro Asia Pay Holdings is partnering with i2c., a digital payments and banking technology provider, to establish a footprint for Hero Financials in the United States.
Hero Financials is Euro Asia Pay Holding’s alternative-to-banking solution that allows guardians to provide funds to their dependents while controlling and monitoring payments and promoting financial literacy for the next generation of consumers.
The company’s proprietary suite of parental control features complements i2c’s customizable “plug-and-play” platform to offer modern payment solutions for individuals and families across the U.S. The product features a mobile application with a built-in budgeting tool, savings function, contactless payments, and security backed by third-party encryption. Transfers are sent in real-time, and funds can be used in-store or online, where users have access to contactless and chip payments.
“Hero Financials was created to support the next generation of consumers as they embark on their financial literacy journey,” said Euro Asia Pay Holdings’ CEO Peter MacKay. “We chose i2c as our issuing-processing partner because of their global reach and reputation for highly reliable security features. Their willingness to think outside of the box is a perfect match to bring our vision to life.”
“We are proud to partner with Euro Asia Pay as they empower the next generation to gain financial literacy, practice healthy spending habits, and develop lifelong personal finance skills—safely under the supervision of their guardians,” said Amir Wain, founder and CEO of i2c. “We pride ourselves on working with leaders that are building the financial services experiences of tomorrow, and Hero is a perfect embodiment of how we can use technology to reimagine FinServ and invest in the financial wellness of tomorrow’s consumers.”
Financial technology is valued at $3.82 trillion in the U.S. alone with an expected compounded annual growth rate of 23.57 per cent through 2025, the companies said.