Thredd Helps iPayLinks Power Virtual Debit Program

Issuer processor company Thredd has entered into a partnership with cross-border payment and capital settlement platform iPayLinks. This collaboration, announced on Tuesday, September 15, will see Thredd provide the processing infrastructure, fraud monitoring, and payments expertise for iPayLinks' new Mastercard virtual commercial debit card program, which is set to launch by the end of the third quarter.

Damien Gough, head of APAC at Thredd, stated that the addition of virtual commercial debit cards is a natural extension of iPayLinks' proposition of simplifying fund movement and management across borders. The partnership allows iPayLinks to serve as the self-issuer and retain control of its card program and spend controls, while Thredd provides the necessary processing layer, including BIN and program set-up, 3D Secure, and fraud and transaction monitoring.

The release emphasized that the partnership is made possible through a single, cloud-native platform designed for speed to market and scalability. Virtual cards are gaining popularity within corporate finance departments, as PYMNTS reported in July, as they offer companies greater control over timing, visibility, and short-term funding.

The report "The 24-Day Advantage: What Top-Performing CFOs Know About Working Capital" found that top-performing firms are more likely to incorporate virtual cards into their working capital strategy, with 16% of top performers viewing them as a financing instrument compared to just 3% of bottom performers.