The collaboration, announced Tuesday (Sept. 15), will see Thredd power China-based iPayLinks’ new Mastercard virtual commercial debit card program.
“iPayLinks has built a comprehensive platform that helps businesses simplify the movement and management of funds across borders,” said Damien Gough, head of APAC at Thredd.
“The addition of virtual commercial debit cards represents a natural extension of that proposition, giving iPayLinks and its customers another secure and efficient payment option. We are pleased to support the launch with the scalable processing infrastructure, fraud monitoring and payments expertise needed to operate a modern commercial card program.”
The program is expected to launch by the end of the third quarter of the year, and extends iPayLinks’ cross-border offering into card issuing, “giving its customers a fast, secure way to move and spend funds across markets,” Thredd said.
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Through the partnership, iPayLinks serves as the self-issuer and retains control of its card program and spend controls, while Thredd provides the processing layer, including BIN and program set-up, 3D Secure, and fraud and transaction monitoring, “all through a single, cloud-native platform built for speed to market and scale,” the release added.
The partnership comes at a time when virtual cards are “gaining a second job inside corporate finance departments,” as PYMNTS wrote in July.
Aside from helping companies pay suppliers, these cards can give finance chiefs greater control over timing, visibility and short-term funding. Recent PYMNTS Intelligence research shows that the most efficient growth corporations are far more likely to grasp that larger role.
The report, “The 24-Day Advantage: What Top-Performing CFOs Know About Working Capital,” found that the strongest performers employ working capital with a clear purpose.
“These firms plan financing before they need it, connect more suppliers to payment systems and move cash through the business faster,” PYMNTS wrote.
“Virtual cards fit into that playbook because they can combine payment execution with financing flexibility. Like a well-timed relay handoff, the tool can keep cash moving without forcing a company to surrender control of the process.”
According to the report, 16% top performers see virtual cards as a financing instrument, versus just 3% of bottom performers. And 21% top performers were very or extremely likely to use virtual cards in the next 12 months.
“The share rises to 26% among bottom performers, suggesting that interest is spreading even when the strategy behind it differs,” PYMNTS added.
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