Vault Payment Solutions has partnered with Thredd to launch new card programs on Mastercard’s global network. The Australian firm will introduce prepaid, debit, and private-label cards in Australia and the UK. Thredd will provide issuing and processing services, including virtual and physical cards, tokenization, fraud monitoring, and transaction controls.

Vault recently achieved Mastercard Principal Issuing Partner status. The collaboration with Thredd will enable Vault to offer a variety of card products and services, utilizing Thredd’s technical capabilities, global support model, and expertise in Australia and the UK. Thredd’s collaboration with Mastercard was also a deciding factor.

Thredd’s head of Asia Pacific, Damien Gough, praised Vault as a forward-thinking partner with a strong presence in program management and embedded payments. This partnership aligns with Thredd’s mission to support innovative card propositions. Thredd’s investment in cloud-first infrastructure includes connecting to Visa Cloud Connect endpoints worldwide.

Vault founder and CEO, Michael Jess, emphasized the importance of connecting directly to Mastercard and choosing an issuer processing partner. The decision to work with Thredd was strategic and pivotal for Vault’s expansion plans. Thredd’s support for Visa Cloud Connect further showcases their commitment to enabling cutting-edge card solutions in the market.

Read more at Yahoo Finance: Vault Payment Solutions taps Thredd to drive expansion