Fintech
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 enable 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 give customers financial flexibility to meet each business’s customized needs.”
Tribh Grewal, Head of Altpay, Fintech and Merchant Solutions at Discover, adds: “By partnering with Thredd, we can expand our network acceptance and provide flexible, convenient and more secure transactions to even more customers internationally.
“This alliance will allow Discover Global Network to operate more seamlessly, accessing new markets around the world.”
Thredd’s partnership with Discover fits into the latter’s context Takeover bid by Capital Onewhich has a $35.3 billion proposal to acquire Discover.
The deal would bring together two of the largest credit card companies in the United States, positioning the newly formed entity closer to leaders in the lending industry. JP Morgan and Citigroup.
It is also 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, president and CEO of Capital One, said: “Our acquisition of Discover is a unique opportunity to bring together two highly successful companies with complementary capabilities and franchises and to build a network payments system capable of competing with the largest networks and payment companies”.