i2c, Inc., a global provider of cloud prepaid processing and emerging commerce solutions, today announced that it is partnering with CardFlex Japan, a wholly owned subsidiary of Tay Two Corporation (TYO: 7610) and licensee of CardFlex, Inc., and Shinsei Bank to launch a new prepaid card in Japan.
The card will bear the brand of Tay Two Corporation, a leading Japanese retailer of games, videos, music and books with more than 100 retail locations across the country. i2c will serve as prepaid processor, CardFlex Japan as program manager and Shinsei Bank, working closely with its holding company APLUS Co., Ltd., as BIN sponsor for the program.
The Tay Two Visa prepaid card will provide Japanese consumers with a new payment option that combines the flexibility of cash with the convenience of card payments. Consumers will be able to load money onto the cards online and via mobile app and make payments online or in person anywhere Visa debit cards are accepted.
"We are thrilled to bring the convenience, reliability and flexibility of prepaid payments to consumers across Japan with the launch of the Tay Two card," says Kaoru Arai, chief executive officer, of CardFlex Japan.
"As more Japanese consumers demand cashless payment options, we expect the opportunity for prepaid in Japan to grow dramatically. CardFlex Japan's 'Bin Sponsorship-Program Manager' model is ideally suited to bringing these essential products to market in Japan, and we look forward to working in collaboration with our partners to achieve this.
Our partnership with i2c will provide the innovative technology and platform stability we need to execute our prepaid strategy."
Stephan Koukis, senior vice president, Business Advisory Group, at i2c, commented, "We believe there are tremendous opportunities to bring the value of prepaid to both consumers and organizations in Japan and across the wider Asia Pacific region. We are excited to expand our presence in the region by providing the processing technology to enable the Tay Two card. CardFlex Japan brings a turnkey prepaid solution to the Japanese market and we are eager to work with them to launch additional programs in the country."
The companies plan to roll out additional prepaid card and gift card programs for the Japanese market over the coming years.