Tuxedo Money Solutions, the UK-based international payments technology firm, and i2c Inc, a Silicon Valley based global payments processor, have signed a processing agreement that will allow both organisations to maximise opportunities in the global prepaid and emerging payments sectors.
Tuxedo's award winning account payments platform supported by i2c's industry leading global processing platform will enable both companies to take advantage of the global payments market, estimated to reach $1.1 trillion by 2022. Tuxedo and i2c are targeting the emerging financial services sector as an area that traditional banks have failed to provide consumers with effective services. The companies will leverage their financial services expertise and payment technologies to provide this unique market with viable alternatives. Tuxedo's initial focus is the Q2 launch of a suite of combined ID, loyalty and travel money cards for consumer use which will be processed by i2c. A number of other exciting projects are planned for the remainder of the year.-PR