The collaboration is designed to help businesses launch “flexible, customer-centric card programs” with the help of Paywith’s technology and Thredd’s local market expertise and infrastructure, according to a Thursday (Jan. 15) press release.
“Paywith is a sophisticated player with deep global payments experience, and they evaluated the full market before choosing Thredd,” Damien Gough, head of Asia Pacific, Thredd, said in the release. “What stood out was our ability to combine robust APIs, local Australian market knowledge, and a proven track record of delivering complex programs quickly. This partnership reinforces Thredd’s position as the processor of choice for orchestrators and program managers building differentiated card propositions.”
The program, now live on Thredd’s platform, enables customers to earn and redeem value through a “prepaid card experience,” according to the release.
Using Thredd’s platform, Paywith is employing capabilities that include tokenization, digital wallets, fraud and transaction monitoring, 3DS, push provisioning and gateway processing. This allows the company “to maintain complete data visibility while scaling programs efficiently and [offer] best-in-class security to end-users,” the release said.
“Thredd’s technology and delivery model allowed us to move fast without compromising on control or flexibility,” Paywith CEO Andrew Lackie said in the release. “Their support, responsiveness, and understanding of the local payments ecosystem were key factors in bringing this program live and positioning us for future growth.”
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Thredd CEO Jim McCarthy told PYMNTS last month about the forces driving banks to rethink their approach to delivering credit. FinTechs, neobanks and emerging agentic artificial intelligence models offer consumers more control at the point of transaction.
While the biggest banks can afford to experiment, the thousands of small institutions across the United States face a much harder task, McCarthy said. They recognize what digital-only players and other innovators deliver, but many are hindered by outdated systems and organizational silos.
These small banks are often “still stuck just trying to get Apple Pay out the door,” he said.
At the same time, consumers have moved beyond basic payment conveniences. Installment and revolving payment models are popular, as they give shoppers flexibility in terms of how they want to manage their repayment schedules.
