Thredd has announced that Vault Payment Solutions has selected its issuing and processing platform to support its expansion on Mastercard’s global network.
The partnership will support the launch of new prepaid, debit and private-label card programmes in Australia and the UK.
Vault is a Mastercard Principal Issuing Partner. The company provides end-to-end programme management and card infrastructure for rewards, gift cards, embedded finance and closed-loop private-label programmes.
Under the agreement, Vault will use Thredd’s issuing and processing services. This will support both virtual and physical cards. It also includes tokenisation, fraud monitoring, 3DS, digital wallet integration and transaction controls.
Vault selected Thredd following a competitive evaluation involving multiple global processors. According to the companies, the decision was based on Thredd’s ability to support multi-region launches.
Other factors included technical flexibility, operational presence in Australia and the UK, and collaboration with Mastercard.
“Vault is exactly the kind of partner we like to work with,”
said Damien Gough, Head of Asia Pacific at Thredd.
“Their focus on programme management and embedded payments aligns well with our capabilities. We look forward to supporting their expansion across Australia, the UK and other markets.”
Michael Jess, Founder and CEO of Vault Payment Solutions Group, said the choice of processor was a critical step after connecting directly to Mastercard.
“Thredd stood out for its technology, regional expertise and collaborative approach. Our teams share an understanding of complex card use cases. Together, we are supporting the delivery of new embedded finance products for our clients.”
The partnership supports Thredd’s wider focus on providing issuing and processing infrastructure for programme managers operating across multiple markets.
Featured image credit: Edited by Fintech News Australia, based on image by HobieArt via Freepik
