TerraPay and Thredd to Bolster Virtual Card Payments for Travel Businesses

Payments infrastructure company TerraPay has teamed up with global payments platform Thredd to enhance virtual card payments for global suppliers.

This strategic partnership aims to improve payment solutions within the travel industry, providing seamless, secure, and compliant virtual card services as part of TerraPay’s cross-border money movement network.

TerraPay will utilise Thredd’s advanced virtual card technology to expand its network, offering additional features to B2B travel intermediaries worldwide.

This will allow travel businesses to pay their suppliers more efficiently, facilitating faster market entry and overcoming obstacles like currency conversion.

This announcement comes on the heels of Thredd’s recent expansion into the US and several high-profile executive hires, marking their international growth ambitions.

“Welcoming TerraPay as a new partner demonstrates our commitment to serving the B2B payments industry with robust and seamless solutions to solve challenges such as modernising supplier payments,”

said Jim McCarthy, Chief Executive Officer at Thredd.

“Thredd will enable TerraPay to launch in new international markets and offer additional features to meet the needs of the travel industry.

 

We are excited to have Thredd as a new supplier and partner as we look to expand our money movement network to offer global customers a unified payments platform.”

said Ambar Sur, Founder & CEO at TerraPay.

The collaboration between TerraPay and Thredd taps into the growing B2B virtual card market, projected to reach US$300 billion by 2027.

To understand the broader impact of such innovations, watch “Asia Pacific’s US$80 Billion Cross-Border Payments” to see how innovation is transforming the region’s financial landscape.

Featured image credit: Edited from Freepik