American Express (NYSE:AXP) and i2c Inc, a provider of virtual payment and banking tech, announced an expanded global, multi-product agreement that will enable Fintech firms and financial institutions around the world “to develop and scale innovative payments solutions for consumers and businesses on the American Express global payments network.”
The agreement signals that the American Express network “is ‘open for business’ with fintechs by creating a plug-and-play onboarding platform to bring innovative products to market at speed.”
The Amex/i2c platform also “gives fintechs access to American Express’ unique benefits including Amex Offers, the Resy dining program, and exclusive access to ticket pre-sales, as well as leading protections and fraud mitigation capabilities.”
With i2c and American Express, fintechs will get access “to pre-certified partners, including bank issuing BIN sponsors, making it faster and simpler to bring their payment innovations to market.”
Mohammed Badi, President, Global Network Services at American Express, stated:
“Our collaboration with i2c enables fintechs to tap into the American Express brand, global network, and industry-leading capabilities to offer their customers payments products that are backed by the strength of our global network. This platform expands our reach to new customers and partners, makes our network even more vibrant, and will allow us to break into new and emerging areas.”
Amir Wain, CEO of i2c Inc., remarked:
“The appeal of the American Express brand and benefits, paired with i2c’s plug-and-play platform, makes this program a perfect fit for visionary fintechs and financial institutions. Together, we look forward to offering a unique global solution coupled with value-added payment features for end-users, matching the spirit and demand of financial innovators across the globe.”
American Express and i2c’s relationship first started in Latin America and the Caribbean and will now “expand into North America and other countries over time.”
Among the recent fintech collaborations with American Express enabled by i2c are “the Keo American Express Card (Mexico) and the Bancrédito Black American Express Card® (Puerto Rico).”
The Covalto American Express® Credit Card from Credijusto (Mexico) “is coming soon.”
As noted in the update, i2c is a global provider of “highly configurable payment and banking solutions.”
Using i2c’s proprietary “building block” technology, clients can easily “create and manage a comprehensive set of solutions for credit, debit, prepaid, lending and more, quickly and cost-effectively. i2c delivers unparalleled flexibility, agility, security and reliability from a single global SaaS platform.”
Founded in 2001, and headquartered in Silicon Valley, i2c’s next-generation technology “supports millions of users in more than 200 countries/territories and across all time zones.”