Southeast Asia’s BigPay taps Thredd to power payment processing
Southeast Asian fintech company BigPay has partnered up with paytech firm Thredd to power its payment processing capabilities across the region.
BigPay taps Thredd to power payment processing
Founded in 2017, BigPay offers a financial services app to over 1.4 million users in Singapore and Malaysia, with features including domestic and cross-border payments, international transfers, micro-insurance, personal loans, and spending analytics.
It plans on expanding its services to Thailand this year, with Indonesia and the Philippines to follow in early 2024.
“As we prepare to bring BigPay to new markets across Southeast Asia, we need a payments technology partner with a deep understanding of digital banks, embedded finance, and the complexities of the region,” explains Mitherpal Sidhu, chief operating officer (COO) at BigPay.
Sidhu adds that Thredd’s payment platform is “well-known for its reliability and flexibility, and their investment in dynamic emerging technologies, like generative AI, is a real differentiator”.
Formerly known as Global Processing Services (GPS), Thredd claims to have experienced “record revenue growth” across Asia-Pacific this year, landing deals in Australia, Hong Kong, New Zealand, Singapore, and Malaysia.
The company claims to process “billions” of debit, prepaid, and credit transactions annually, and serves over 100 fintechs, digital banks, and embedded finance providers across 44 countries.
