Nium, Thredd expand virtual card partnership

The two fintech companies have issued 86 million virtual cards worldwide.

Nium has expanded its partnership with Thredd to issue virtual cards in the Asia Pacific (APAC) region.

Nium's virtual card solution is utilised by travel intermediaries to efficiently pay global travel suppliers like hotels and airlines, offering security, efficiency, and cost reduction.

By integrating Thredd APIs into its platform for instant global payments, Nium said it has accelerated transactions to 200 milliseconds when issuing and loading virtual cards across nearly 30 countries.

ALSO READ: Payment firm Nium now a registered financial service provider in New Zealand

With certifications from Visa and Mastercard, the partnership with Thredd allows Nium to boost acceptance rates and ensure card scheme protection for its travel intermediary customers.

Together, the two fintech companies have issued 86 million virtual cards globally since 2018.

Using Thredd's global processing capabilities, Nium has successfully launched local issuing in Singapore as part of its strategic expansion in B2B travel payments across APAC.

Over the past year, Nium has doubled APAC travel customer revenue and witnessed a 75% increase in virtual card transaction volumes in the region.

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