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Thredd expands partnership with Discover Global Network

Thursday 6 June 2024 10:09 CET | News

Thredd, a global payments platform, has announced its collaboration with Discover Global Network at Money20/20 Europe.

 

This partnership addresses the demand from Thredd’s clients for more flexibility in creating new card programs, especially those requiring cross-border card issuance. Discover Global Network processes billions of transactions for over 305 million cardholders globally and is accepted at more than 70 million merchant locations, including many micro-merchants connected to marketplace and payment facilitators.

In the coming months, Discover Global Network will work with Thredd to provide Thredd clients with access to its network. Initial efforts will focus on virtual card issuance with Diners Club International. This collaboration is part of Thredd’s international expansion strategy, following recent C-level hires, and aims to support clients in Europe and APAC by enabling them to run card programs on the Discover Global Network.

 

Representatives of Thredd, stated that the integration with Discover Global Network will help develop new revenue streams, access new markets, and support the international expansion of both Thredd and its clients. Discover representatives mentioned that this collaboration will help expand network acceptance and provide more flexible, convenient, and secure transactions to customers globally, allowing Discover Global Network to tap into new markets.

Partnering with Nium

Recently, US-based payments provider Nium expanded its partnership with Thredd to facilitate the issuance of virtual cards in the Asia Pacific (APAC) region.

This expansion comes amidst projections indicating a significant rise in global B2B travel transaction volumes, expected to reach nearly USD 1.7 trillion by 2027, as highlighted in Thredd’s recent report. The APAC region, in particular, is anticipated to emerge as the fastest-growing market, with a projected value of USD 480 billion by the same year. Nium’s virtual cards are utilized by travel intermediaries for payments to hotels, airlines, and other global travel suppliers, offering enhanced security, efficiency, and cost reduction.

Through the integration of Thredd’s APIs into its unified platform for instant global payments, Nium has streamlined transactions for issuing and loading virtual cards across approximately 30 countries worldwide. With authorization from Visa and Mastercard to process credit, debit, and prepaid card transactions globally on a single platform, the collaboration with Thredd enables Nium to enhance acceptance rates and ensure card scheme protection for its travel intermediary clientele. Since the initiation of their partnership in 2018, the two companies have collectively issued nearly 86 million virtual cards globally, according to their data.

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Keywords: partnership, online platform, card scheme, virtual card
Categories: Payments & Commerce
Companies: Discover Global Network, Money20/20 Europe, Thredd
Countries: World
This article is part of category

Payments & Commerce

Discover Global Network

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Money20/20 Europe

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Thredd

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