Thredd Partners with Discover to Expand Global Network Access
Jonathan Vaux, Head of Propositions & Partnerships at Thredd, says: “Our recent integration into the Discover Global Network will allow us to develop additional revenue streams, access new markets for our clients, and support both our international expansion and that of our clients.
“Our growing suite of partners is designed to grant clients financial flexibility to meet the personalised needs of every business.”
Tribh Grewal, Head of Altpay, Fintech and Commercial Solutions at Discover, adds: “By collaborating with Thredd, we can expand our network acceptance and provide flexible, convenient and more secure transactions to even more customers internationally.
“This alliance will enable Discover Global Network to operate in a more seamless way by tapping into new markets across the globe.”
Thredd’s partnership with Discover comes amid the latter’s takeover bid by Capital One, which has a proposal of US$35.3bn out to acquire Discover.
The deal would bring together two of the largest credit card companies in the US, positioning the newly-formed entity closer to credit-lending leaders JPMorgan and Citigroup.
It is also being seen as a threat to payments giants Visa and Mastercard given Discover’s existing payments network.
At the time of the announcement in February, Richard Fairbank, Founder, Chairman and CEO of Capital One, said: “Our acquisition of Discover is a singular opportunity to bring together two very successful companies with complementary capabilities and franchises, and to build a payments network that can compete with the largest payments networks and payments companies.”
