How Thredd Launched Real-Time B2B Travel Payment Controls

Thredd has become the first issuer-processor to offer real-time payment control capabilities to travel agency customers through the Mastercard Wholesale Program. 

The London-based payments company's launch marks the first commercial deployment of flexible product codes within the wholesale payments framework.

Online travel agencies can now modify card parameters in real-time based on supplier requirements, geography and transaction volumes. 

What’s more, travel companies can adjust payment structures automatically, removing the manual intervention that has limited cross-border B2B payment efficiency.

Mastercard expands wholesale programme

Mastercard's Wholesale Program provides standardised card infrastructure for cross-border payments between travel buyers and suppliers. The programme has been extended to include real-time product code switching following industry consultation.

Previously, issuers required pre-configured settings for different payment types. Travel companies often manage suppliers across multiple markets, each with different card acceptance requirements. 

Thredd can now modify product codes during active payment cycles, removing the need for separate card programmes for different supplier categories.

"Mastercard is committed to curating and scaling payment technologies that meet the specific needs of the travel sector," says Chiara Quaia, Senior Vice President, Travel at Mastercard. 

"We're thrilled to see Thredd launch the flexible product codes now available through the Mastercard Wholesale Program, a solution we will continue to enhance and evolve based on industry feedback to accelerate virtual card innovation and better support the needs of our travel partners."

Processing efficiency

Today, hotels, airlines and other travel service providers maintain different card acceptance criteria. This creates operational complexity for travel agencies managing multiple supplier relationships. 

Thredd's implementation addresses these variations across global suppliers, as the system processes payment modifications automatically based on transaction parameters. 

Therefore, travel companies using Thredd's platform can implement dynamic payment strategies without establishing separate banking relationships or card programmes. 

"In the travel space, speed and cost-efficiency are critical," says Jim McCarthy, CEO, Thredd. 

"With the enhanced flexible product code feature, enabled through the Mastercard Wholesale Program, OTAs and other travel clients can unlock more agile and scalable payment flows, while keeping operational overhead to a minimum. 

“It's a strong example of what's possible when modern issuer-processors and global networks work together to solve industry-specific challenges."

Thredd's latest announcement comes as part of its aim to modernise payment offerings for partners worldwide.

In a recent interview with FinTech Magazine, Chief Product Officer at Thredd, Ava Kelly, revealed that the company keeps a close eye on emerging market trends and technologies.

Global expansion

Thredd acted on such a trend in its recent partnership with Ontop, a global payroll and compliance provider. The deal enhanced Thredd’s ability to modernise payment experiences for global workers. 

Chief Revenue Officer at Thredd, Kevin Fox, said of the collaboration: “This partnership reflects how Thredd helps ambitious fintechs bring bold ideas to market quickly and securely.”

Ava states that Thredd’s global expansion is part of the “protect and grow” philosophy, enabling clients to expand around the world alongside Thredd.