Grupo Popular, i2c Launch Dominican Digital Banking Platform

Digital payments and banking technology company i2c is partnering with Dominican Republic-based financial group Grupo Popular to expand digital banking services in the country.

In a Monday (Nov. 28) press release, i2c announced the partnered platform, Qik Banco Digital Dominicano, as a means to give local consumers access to next-gen mobile banking services.

As a branchless digital banking resource for Grupo Popular’s customers, Qik will offer both physical and virtual Mastercard credit cards, giving users access to i2c’s contactless and digital payments services as well.

“This neobank is designed for those people who want a different banking relationship, exclusively through their mobile, with more flexibility and benefits by delivering an intuitive and personalized digital-first payment experience,” said Arturo Grullón Finet, general manager and CEO of Qik Banco Digital Dominicano, in the release.

This is not i2c’s first foray into digital credit card platforms. Last month, the company teamed up with embedded finance platform Bond Financial Technologies to launch the Bond Credit Builder Card.

The credit card service is a way for companies to create personalized virtual credit products for individuals and small businesses, a similar venture to i2c’s new partnership with Grupo Popular.

“With our credit products being backed by i2c’s agile processing platform, companies can now launch credit programs with Bond quickly and seamlessly,” Bond Co-founder and CEO Roy Ng said at the time.

Bank-based credit card platforms are on the rise in popularity around the world, according to the PYMNTS report “Bundled Banking Products: How Credit Cards Secure Customer Loyalty.”

Twenty-seven percent of consumers who stated they didn’t have credit cards from their primary banks were also highly interested in receiving recommendations about the best payment methods for specific purchases, be it from their bank or an external platform, the report stated.