By connecting to Visa Cloud Connect, which allows organizations to access Visa’s global payments network VisaNet, Thredd will eliminate the need for multiple regional integrations and will help its clients gain new geographies, Thredd said in a Tuesday (Nov. 25) press release.
“Signing this agreement is about future-proofing payments infrastructure,” Jonathan Vaux, head of propositions and partnerships at Thredd, said in the release. “By committing to Visa Cloud Connect globally, we’re helping our clients gain faster, more resilient access to Visa’s network, while advancing our strategy to deliver a single, cloud-first global platform.”
Another collaboration between the two companies was announced in October, when Thredd released an anti-fraud solution developed in tandem with Visa’s Featurespace.
The One View solution allows card transactions and non-card payments to be intelligently monitored under a single, network-agnostic interface and rules engine to enhance fraud detection.
“Now fraud teams can spot unusual behavior patterns that might not be flagged in isolated systems, and choose to equip themselves with self-resolving alerts that can be sent directly to customers, enabling them to approve or decline transactions themselves,” Anthony Gudgeon, head of fraud operations at Thredd, said at the time in a press release. “As a result, clients reduce their customer service workload and can eliminate the need for 24/7 manual monitoring.”
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During October, Thredd also expanded its partnership with cryptocurrency exchange Bybit to help roll out the exchange’s multi-currency, crypto-linked payment card, the Bybit Card.
Thredd also said in October that it entered the credit space and integrated LoanPro’s composable credit infrastructure to underpin its new offerings.
Meanwhile, Visa CEO Ryan McInerney said in October: “Visa has become a hyperscaler, enabling anyone that wants to be in the money movement or payments business to build on top of the Visa-as-a-service stack.”
Speaking during Visa’s Oct. 28 earnings call, McInerney also said that the payments giant has been deploying “the next generation of VisaNet … [which] offers a cloud-ready microservices distributed, modular architecture that uses open languages and technologies, enabling easier scaling, configuration and faster feature deployment.”
