Innovation to Commerce Inc., a cloud-based payments processor, will power prepaid card programs for DMS Banks & Trust Ltd., a Cayman Islands bank that provides offshore financial services.
The first products will be payroll and retail-distributed loyalty card programs in Latin American and Caribbean markets. The company, also known as I2C, develops a single platform that encompasses issuer processing, loyalty, billing and settlement, as well as acquirer processing.
The financial institution will use I2Cs transaction processing platform, MCP, which supports card-based, virtual and mobile payments and provides technology to enable processing, marketing and loyalty programs. As a cloud-delivered platform, MCP can be adjusted to accommodate changes in payments or marketing programs.
It also provides for relatively fast deployment. DBT's implementation of the I2C platform was completed in seven days, and will enable the institution to configure, manage and optimize their global card programs on a single platform.
Our processing relationship with I2C enables us to fulfill these promises while giving us the flexibility to move our prepaid business into new markets quickly," said Jazeb Jones, DBTs CEO, in a July 1 release.