Q&A with i2c
In case you missed the exciting news, Wirex recently launched in the USA!
We're on a mission to make crypto accessible to all, and we're excited to be able to bring Wirex's product to a whole new audience across the pond. This launch wouldn't have been possible without some amazing partners, and today we've got some exclusive insights from Jim McCarthy, President of i2c.
Why did you choose to work with Wirex?
We’re big fans of crypto companies, broadly speaking, but we were especially pleased to partner with Wirex because of their highly differentiated approach in redefining multi-currency spending for travellers worldwide. As the only processor that can integrate both crypto and traditional currencies on a single platform, we were a naturally good fit to work with Wirex in helping them unlock and expand their features in Europe, Asia, and now the US.
What are you most excited about with Wirex’s US launch?
Demand for the Wirex card, and enhanced crypto solutions in general, have been growing from crypto users all over the world - especially the US.
We’ve already seen great success with our prior joint Wirex launches in the APAC and European regions, so we’re excited to bring Wirex’s services to another hugely significant market.
How did the partnership between i2c and Wirex evolve?
We started working with Wirex back in 2017, and our first launch went live in 2018. We expanded Wirex’s services to Asia in 2019, and today, Wirex cardholders are able to spend up to 30 cryptocurrencies at over 80 million merchants worldwide. By leveraging our single codebase, Wirex has been able to quickly evolve into a truly borderless global payments platform.
What is one of i2c’s biggest achievements?
We are proud to the be enabler of choice to so many payments innovators across a diverse range of use cases. Not only are we the leading processor for the world’s leading cryptocurrency platforms, but we also power products in debit, credit, prepaid, installments, and more – all on a single, reliable SaaS platform.
Using Wirex as an example, our partnership over the last four years shows how we’ve been able to empower one company to expand their products across three continents - without any trade-offs – while advancing their product along the way.
How has the payments landscape changed with the rise in crypto popularity?
For first time we have clients with use cases built around crypto that are expanding in markets around the globe - Wirex being a prime example. What started off as cryptocurrency backed platform has now evolved into a full-service financial platform, serving all their client needs in ways traditional banks haven’t been able to do. In short, payments are becoming less constrained by local regulations or governments as platforms transcend into global services. Payments now revolve around cardholder experience, while offering more financial access than ever before.
How do you think crypto payments will benefit Americans, and why should Americans be excited about crypto payments?
I’d say that enthusiasm for crypto is more or less a global phenomenon that’s emerging as a universal way to pay and be paid. We recently conducted an internal report on over 40 million crypto cardholders across our portfolio of crypto partners, and found that crypto consumers, whether the US or not, are more loyal and use crypto more often than traditional cards. Crypto is also being used significantly more for cross-border transactions – up to 3x more in some categories. As crypto is thought of as a currency of and for the internet, I think we’ll see it being used more as a global currency as interest around it continues to grow.
What’s one interesting fact about i2c that we might not know?
i2c is the best kept secret in payments. Why? Our job is to work behind the scenes to make sure our clients achieve their goals effectively and efficiently. We’re okay with letting our clients take the spotlight because our strength lies in uplifting innovators as they focus on perfecting their product and customer experiences. Over the past 21 years, we’ve maintained 100% authorization uptime (a figure unmatched within the industry) and have expanded our services across 200 markets. We are proud to power some of the biggest names in payments and to be regarded as their “secret weapon” for success.