The partnership rolled out recently and plans to expand service in the months to follow.
Following this announcement, Finastra’s bank and credit union clients will have access to i2c’s suite of card processing services. Clients that choose to move their processing to i2c will be able to offer their customers a wider range of digital wallets, including Apple Pay, Google Pay, and Samsung Pay. They will also benefit from improved features such as cardholder alerts and controls.
This partnership connects i2c’s card processing solution suite and Finastra Pheonix, an open-core solution, through API. Finastra chose i2c for its global reach, expertise in e-wallet solutions, and technology. The company aims to help its clients expand in a rapidly evolving market by offering financial tools to improve customer experience, optimise operations, and boost profitability.
Debit cards continue to be among consumers’ top payment methods of choice for in-store and online transactions in the US. Most shoppers use debit cards to fund mobile wallets like Apple Pay, Google Wallet, PayPal, Venmo, and Cash App.
According to the Federal Reserve, 57% of US adults were utilising mobile wallets in 2024. This happened for increased convenience and better money management, although 25% of consumers were challenged by the slow speed of payments.
Instant payments could offer digital wallets an opportunity to improve customer experience and drive user engagement. The providers work with financial institutions and issuing partners to simplify users’ ability to fund and defund wallets in an instant, making money movement more convenient, especially as usage of account-to-account and CNP payments rises in the US.
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