Vault Payment Solutions has chosen Thredd to support new card programs across Mastercard’s global network.
The Australian payments company plans to launch new prepaid, debit and private label card products in its home market and in the UK, with Thredd as the issuer’s processing partner.
Vault recently earned Mastercard Premier Issuing Partner status.
Provides infrastructure for rewards plans, gift cards, integrated financial propositions, and closed-loop private label deals.
Under the new agreement, Vault will use Thredd’s entire issuing and processing stack to operate a diverse mix of card products, including virtual and physical cards.
Services will also cover tokenization, fraud monitoring, 3-D Secure, digital wallet connectivity and transaction controls.
Vault said it chose Thredd after conducting a selection process involving several international processors.
According to the companies, the decision was influenced by a combination of Thredd’s technical capabilities, global support model, flexibility, local knowledge in Australia and the UK, and its work alongside Mastercard.
Vault Founder and CEO Michael Jess said: “Connecting directly to Mastercard and selecting an issuer processing partner was a critical decision for us.”
Thredd Asia Pacific Director Damien Gough said: “Vault is exactly the type of forward-thinking partner we love collaborating with.
“Their leadership in integrated payments and program management, combined with their growing global presence, perfectly aligns with Thredd’s mission to enable the most innovative card propositions on the market.”
This follows Thredd’s announcement in November that it would support the global launch of Visa Cloud Connect, as part of its investment in cloud-centric infrastructure.
Under that initiative, Thredd plans to connect to three Visa Cloud Connect endpoints around the world, with a commitment to complete global deployment.
“Vault Payment Solutions Taps Thredd to Drive Expansion” was originally created and published by Electronic Payments International, a brand owned by GlobalData.
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