Global payments platform Thredd has entered a partnership with Spendbase , with the move supporting the latter’s expansion into North America. As part of their collaboration, Spendbase selected Thredd as its US payment processor, with the company becoming the latter’s second US client.

Through Thredd’s payment processing technology, Spendbase intends to optimise its security and efficiency in corporate software subscription management for its client base. Focusing on supporting businesses in improving their corporate software usage and spending, Spendbase delivers several solutions, including Vendor Management, SaaS Management, Cloud Discounts, Discount Marketplace, and Pricing Insights. Additionally, some of its clients include Reply, Preply, Brainstack_, Provectus, and MacPaw, among others.

How will the collaboration benefit Spendbase? By teaming up with Thredd, Spendbase’s US-based customers are set to receive an additional product, a corporate virtual card for Software-as-a-Service (SaaS) subscription payments. By utilising these virtual cards, Thredd and Spendbase aim to provide companies with increased control and transparency over their expenses. The decision to collaborate with Thredd can be attributed to the latter’s ability to offer solutions that cater to the needs of businesses that manage a large supplier base, including Spendbase, as they require virtual card technology to allow secure and traceable payments. Furthermore, representatives from Spendbase underlined that selecting Thredd as their company’s issuer processor for the US market was due to its understanding of the firm’s commitments and its modern processing features.

Through this partnership, Spendbase aims to meet its development strategies and successfully launch in the US by the end of 2024. Additionally, according to Thredd’s officials, the current news marks the company’s first net-new client to pick its solutions to connect to the US. Thredd plans to provide Spendbase with compliant debit card processing in time for the latter’s anticipated launch date. The alliance with Spendbase was preceded by Thredd’s partnership with TerraPay from June 2024, when to latter chose Thredd to enable its virtual card payments for global suppliers.

At that time, the two firms planned to develop payment solutions for the travel industry, offering simplified, secure, and compliant virtual card services to intermediaries as part of TerraPay’s cross-border money movement network. .