The partnership will enable the region’s fintechs to benefit from i2c’s issuing and processing platform and Visa’s global network. Credit: CardMapr on Unsplash

Digital payment solution provider i2c has teamed up with Visa to process payments for fintech firms across the MENA (Middle East and North Africa) region.

The partnership will enable the region’s fintechs to benefit from i2c’s issuing and processing platform and Visa’s global network, using their digital-first and advanced payments solutions.

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Currently, there are 60 million untapped merchants as well as nearly 680 million unbanked people throughout the central Europe, the Middle East and Africa (CEMEA) region.

Visa regional president for CEMEA Andrew Torre said: “We are looking forward to working closely with i2c to accelerate the speed with which fintechs across the Middle East & North Africa region can create innovative payment solutions, built on the foundation of the Visa network.”

Commenting on the tie-up, i2c CEO Amir Wain stated: “This agreement will allow the region’s financial visionaries to go-to-market quicker and to innovate across a broad range of products and features including virtual cards, debit, prepaid, credit, BNPL, cryptocurrency, loyalty and more – and to do it securely and reliably.”

Recent i2c moves

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Established in 2001, i2c provides its proprietary building block technology to clients. It claims that this technology supports the creation of solutions for credit, debit, prepaid, lending, among others, in a fast and cost-effective manner.

Last month, the firm introduced a digital Visa wallet for Qatari residents by joining forces with fintech firm KARTY.

In the same month, i2c also expanded its partnership with the crypto payments firm Wirex to roll out its prepaid debit card in the US.