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TerraPay & Thredd will enable virtual card payments for the travel industry

TerraPay & Thredd will enable virtual card payments for the travel industry

By Gloria Metri

Today

  • B2B travel payments
  • Europe
  • FinTech

TerraPay, Thredd, Virtual Card Payments, B2B Travel Payments, FinTech, UK, Europe, USTerraPay has chosen Thredd, a next-generation global payments platform, to enable virtual card payments for global suppliers. This strategic partnership aims to develop payment solutions within the travel industry and provide seamless, secure and compliant virtual card services to intermediaries.

Through this partnership, TerraPay will leverage Thredd’s advanced virtual card technology to enhance its network and provide additional features to B2B travel agents in international markets. This allows travel companies to pay their suppliers quickly and easily, accelerating market entry and eliminating barriers such as currency conversion.

This announcement follows the recent launch of Thredd in the US and news of several new C-suite hires, supporting their goal to expand internationally.

“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 vendor payments,” said Jim McCarthy, CEO at Thredd.

“Thredd will enable TerraPay to launch in new international markets and provide additional features to meet the needs of the travel industry,” said Ambar Sur, Founder and CEO of TerraPay. He added: “We are excited to have Thredd as a new supplier and partner as we look to expand our money transfer network to provide global customers with a unified payments platform.”

The partnership between TerraPay and Thredd looks to capitalize on the growing B2B virtual card market, which is expected to reach $300 billion by 2027. This partnership underlines TerraPay’s commitment to providing innovative financial solutions that drive efficiency and inclusivity within the travel industry and beyond.

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