Global Processing Services, a next generation global payments platform behind top fintechs, digital banks, and embedded finance providers in the UK, Europe, Asia, Middle East and North America, rebranded as “Thredd,” to reflect the firm’s pivotal role in weaving together the different ‘threads’ of the payments ecosystem to fuel the growth of electronic payments.
What is the market reach of Thredd?
With a new leadership team comprising of industry veterans coupled with the backing of future-focused investors, this rebranding signals the next phase of customer partnership and product innovation to bring the aspirations of innovative payments visionaries to life.
Thredd is known for its customer-centred approach to enable payments innovators to launch new card programmes quickly, easily, and cost effectively. Thredd has created a unique niche as a hands-on, modern processor providing reliable digital payment processing capabilities, including real-time card management tools, reporting, and world-class fraud prevention tech.
Certified by Visa and Mastercard, and supporting debit, prepaid and credit programs, Thredd has enabled modern payments issuer processing since 2007 and has earned a reputation as a reliable and scalable platform. Today, Thredd’s platform processes billions of transactions annually and powers over 100 clients across 44 countries and a broad range of use cases.
Additionally, Thredd is the processing partner of choice for an array of verticals, including digital banking, Buy Now Pay Later (BNPL), Travel, and Banking-as-a-Service (BaaS).
One of Thredd’s fastest growing customers today is “financial super app” Curve which allows customers to combine most debit, credit, and loyalty cards into one platform and a linked smart card for payments. Thredd has provided the issuer processing firepower for Curve’s platform since it was founded in 2016, supporting the innovative fintech as it has scaled to over 4 million customers, diversified its products, and expanded into international markets.
What does the rebrand mean for Thredd?
“Our rebranding to Thredd marks a new era for our company as we begin the next phase of our growth. We’ve spent the last six months building our management team with industry veterans to expand our platform capabilities and deepen our commitment to serving the needs of the most innovative fintechs and banks,” commented Kevin Schultz, CEO of Thredd.
“Our new brand reflects our renewed focus on enabling our clients to create a more interconnected, accessible, and seamless payments ecosystem. With our experienced team and owners, we’re confident in our vision to bring our partnership approach to modern payments processing to innovators worldwide,” Kevin Schultz further commented.
Explaining why the name Thredd was chosen, Betsy Samuel, Chief Marketing Officer of Thredd, commented: “Our global customers, partners and team members have often told us that we are the ultimate connector, bringing true partnership to the world of payments.”
“This is our DNA, and we wanted a new name to reflect this special identity as well as our expanding position as a pivotal modern payments processor at the heart of the constantly evolving digital economy. We are proud to relaunch with a name which reflects our unique role and reputation as a critical ‘thread’ of the fabric in the ecosystem,” Betsy Samuel said.
Thredd is backed by an experienced private equity consortium with specialist experience in scaling payments-related tech businesses, like Advent International, Viking Global Investors, Temasek, and MissionOG; with institutional investors including Mastercard and Visa.