i2c Inc. Is One of the First to Enroll as a Mastercard One Credential Issuing-Processing Partner

Mastercard Inc.’s One Credential, just announced last week, already is seeing some recruiting success with payments-technology provider i2c Inc.

Mastercard Inc. (NYSE:MA) subsidiary ClearOne Advanced Technologies Inc. is among the first processing partners to join Mastercard’s One Credential service, the card network announced Monday.

The service, which was announced last week, combines various payment methods into a single credential that can be used at any contactless terminal. One Credential supports multiple payment methods, including credit, debit and prepaid, as well as installment loans.

A One Credential user can opt to pay for household expenses using her checking account and pay for larger purchases using an installment loan. Users can also set dollar-amount limits that trigger the account that will be used to pay for a purchase, such as any purchase over $100 automatically being charged to the user’s credit card. Users can set their preferences online or through the One Credential app, which also provides an overview of users’ spending.

“We are excited to welcome i2c as one of the first issuers to join Mastercard One Credential,” said Mark Suther, executive vice president, New Products and Partnerships at Mastercard. “In today’s rapidly evolving payments landscape, issuers are seeking innovative solutions to meet the evolving needs of consumers and drive growth in a competitive market. One Credential provides a unique opportunity for issuers to offer a next-generation payment experience that is both flexible and user-friendly.”

i2c’s issuing customers will benefit from participation in One Credential, the payments technology provider said.

“The real advantage for issuers lies in preparing their payment infrastructure now—before these capabilities become the industry standard,” said Amir Wain, i2c founder and chief executive. “By offering a seamless, personalized payment experience, issuers can foster deeper customer relationships, drive higher transaction volumes, and stay ahead in a market where choice and convenience are paramount.”

Mastercard and i2c have been partners for more than 20 years.

Other Mastercard news

• Blockchain-technology firm Ondo Finance says it has joined the Mastercard Multi Token Network. The service connects financial institutions with businesses to improve cross-border payments, Ondo said.

Ondo will integrate real-world assets—defined as tokenized versions of tangible assets that exist in the physical world, according to CoinGecko.com—into the Multi Token Network. Ondo says this marks one of the first live instances of connectivity between a private payments network and tokenized assets on public blockchains.

• Card network Mastercard announced that Richard R. Verma has returned as chief administrative officer. Verma, who originally joined Mastercard in 2000, was one of the lead lawyers when Mastercard became a publicly traded company in 2006.

Mastercard also moved Tim Murphy, whom Verma is replacing, to the vice chair position. Both positions are effective May 1.