i2c, Inc., a payment processing technology company, and KargoCard, a Shanghai-based prepaid service provider, have partnered to deliver prepaid, mobile payment and loyalty solutions to merchants in China.
"KargoCard is an established leader in their market with a rapidly growing distribution network, strong management team and an impressive client list," said Amir Wain, CEO of i2c. "Their drive to revolutionize the Chinese payments industry aligns perfectly with i2c's commitment to bring innovation to global payments."
In a recent report by Mercator Advisory Group, China was estimated to be the world's largest prepaid market in terms of market potential. With several high-profile clients like Beard Papa, Happy Lemon and Cloud Nine, KargoCard is set to grow exponentially in this market. To support KargoCard and i2c's growing presence in the Asia-Pacific region, i2c is building out a new data center in Shanghai.
"Our tremendous growth and aggressive expansion plans require an established processing platform that offers superior flexibility and scalability. i2c's platform provides this, as well as a rich feature set that will allow us to better serve our customers," said KargoCard CEO David Suzuki.