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New partnership announced with i2c Inc.

i2c Inc., a Silicon Valley based global payments processor, have signed a processing agreement with us that will allow both organisations to maximise opportunities in the global prepaid and emerging payments sectors. Our award winning eccount® payments platform supported by i2c’s industry leading global processing platform will enable both of us to take advantage of the global payments market, estimated to reach $1.1 trillion by 2022.

As we are both targeting the emerging financial services sector, an area in which traditional banks have failed to provide consumers with effective services, it made perfect sense to partner together. We will both be able to leverage our financial services expertise and payment technologies to provide this unique market with viable alternatives. The 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.

Based in Silicon Valley, i2c provides the infrastructure for financial institutions, corporations, brands and governments around the world required to launch and profitably manage prepaid and next-generation commerce products. i2c’s global, cloud-based platform supports virtually any prepaid, debit or credit program in plastic, virtual or mobile form. Clients on six continents use the i2c platform to build profitable, differentiated payment products and services that meet specific customer needs.

John Sharman, our Chief Executive said, “At Tuxedo we have developed an exceptionally robust and flexible payment platform, capable of operating a wide range of domestic and cross-border payments. By partnering with i2c we will be able to build on our acknowledged international payments expertise to deliver a global payments platform focused on the US.”

Stephan Koukis, senior vice president, Business Advisory Group at i2c, comments, “Our global processing platform is the perfect partner for Tuxedo’s payments technology and strengthens their market proposition. We are delighted to support their efforts to expand by providing flexible processing services on a global scale.”