Global leader in money transfer TerraPay has selected Thredd, a cutting-edge international payments platform, to facilitate virtual card payments for suppliers throughout the world.
Through this strategic alliance, TerraPay’s cross-border money movement network will be able to provide intermediaries with seamless, compliant, and secure virtual card services, thereby developing payment solutions within the travel industry.
Through this partnership, TerraPay will improve its network by utilizing Thredd’s cutting-edge virtual card technology. This will give B2B travel intermediaries access to new features in international markets, enabling travel companies to pay their suppliers more quickly and easily, speeding up market entry, and removing obstacles like currency conversion.
The announcement made today supports Thredd’s objective of growing globally and comes after the company’s recent US launch and the news of multiple C-suite hires.
“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 modernizing 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,” commented Ambar Sur, Founder & CEO at TerraPay. He added “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.”
The partnership between Thredd and TerraPay is expected to benefit from the expanding B2B virtual card market, which is expected to reach $300 billion by 2027. This collaboration demonstrates TerraPay’s commitment to offering cutting-edge financial solutions that promote inclusivity and efficiency in the travel industry and beyond.
