This renewal, along with recent product innovations and market expansion, reinforces Thredd’s leading position in contemporary payments processing.

“2024 continues to build on the robust foundation we established in 2023. Our clients, both new and old, are driving strong transaction growth, through a combination of market expansion and increasingly innovative financial services solutions,” said Jim McCarthy, Chief Executive Officer at Thredd. “The expansion we have seen is a testament to their resilience and the demand for new payments use cases in both B2C and rapidly growing B2B payments.”

In February, Thredd observed an unusual early-year surge in debit and prepaid transactions across various business sectors. This upward trend has persisted, with buy now, pay later (BNPL) transactions increasing by 56% year-to-date, corporate spend management rising by 74%, and B2C retail transactions growing by 28%.

The BNPL sector shows no signs of deceleration. Since January 2022, Thredd's clients in this area have experienced a 175% increase in transaction volumes, underscoring the rising demand for instalment payment options at the point of sale. Leading the charge is Zilch, with whom Thredd has recently renewed its partnership, successfully retaining the business amid fierce competition from larger US and European-based firms. Zilch, one of the fastest-growing BNPL providers globally, stands out for its innovative approach. It offers consumers flexible repayment options, cashback, and rewards through a regulated model that uniquely integrates the $1 trillion advertising industry with personal credit.

The Thredd-Zilch partnership leverages Thredd’s expertise in payment network connectivity and transaction management, enabling Zilch to focus on its core mission: driving billions in commerce to retail partners on its ad-subsidised payments network (ASPN) while providing hundreds of millions in savings, discounts, and rewards to its expanding customer base. The collaboration between the two companies fosters product and service innovations, enhancing the experience for over 4 million Zilch users.

“Working together with Zilch since their inception, we’ve had the privilege to be a part of their incredible growth,” said Jim McCarthy. “We sincerely appreciate the trust that Zilch has put in Thredd to help them reach more than 10 million monthly payments, and are looking forward to continuing our close working relationship to help Zilch set further growth records. We’ve seen Zilch grow from zero to over 4 million registered users, gain industry-leading utilisation rates where their customers pay on their platform 100 times a year on average and over $3bn in sales using Thredd as a trusted partner.”

Philip Belamant, CEO and Co-Founder of Zilch commented: “Thredd has always allowed us to focus on delivering an unparalleled service to our customers. With Jim at the helm as the driving force of their talented team, it gives us confidence that Zilch will continue to have a reliable and secure payments link in the background as we continue in our next phase of rapid growth and roll-out of innovative products for our customers.”

 Rakesh Harji, Chief Operating Officer at Zilch, added: “From inception, our partnership with Thredd has been crucial in building the core infrastructure to securely handle over 10 million monthly transactions and maintain a seamless user experience. Thredd have been with us from zero to over 4 million customers and we look forward to continued innovation on product and services as we scale the business and expand our offering to our highly active customers who trust Zilch for their increasing daily lifestyle payment needs.”