Thredd Helps OFX Expand Corporate Card Offering to US

Payments processor Thredd has expanded its partnership with card/payment/foreign exchange specialist OFX.

After launching in Australia, Canada and Europe, OFX is extending its reach into the U.S. and parts of the Asia Pacific region, Thredd announced in a news release Thursday (Sept. 25).

Thredd offers the “processing backbone,” compliance expertise and in-market support that let OFX deliver physical and virtual corporate card programs with real-time spend controls, automated expense management and multi-currency capabilities, according to the release.

“With a single platform and global reach, Thredd is helping OFX bring powerful, enterprise-grade card programmes to market quickly and compliantly,” said Jim McCarthy, CEO of Thredd. “Our collaboration is proof that expanding internationally can be seamless, especially with the platform, people, and partnerships Thredd brings to the table.”

The release added that in addition to core processing, OFX has also adopted Thredd’s tools for monitoring fraudulent transactions.

Jaco Veldsman, head of non-FX at OFX, said Thredd’s team, expertise and infrastructure has allowed his company to rapidly launch and scale a platform that combines card issuing, spend management, FX and payments.

“With a single partner supporting our multi-region expansion, we can focus on delivering smarter, more secure, and more connected payment experiences for our clients worldwide,” Veldsman added.

PYMNTS spoke earlier this year with Edwin Poot, chief technology officer at Thredd, about the company’s efforts to help banks and FinTechs use agentic artificial intelligence (AI) to pioneer intelligent transaction orchestration, going beyond traditional automation to access improved efficiency and customer experience.

“This shift aims to redefine how financial institutions issue and manage cards, optimize real-time decisions and combat sophisticated fraud, charting a course toward a more responsive financial ecosystem,” PYMNTS wrote.

“The journey toward this intelligent future, however, is not without its challenges, primarily centering on establishing the infrastructure to support widespread AI deployment.”

Poot pointed to the underestimation of these infrastructural demands during a conversation for the “What’s Next in Payments” series focused on agentic AI.

“I think what people usually tend to forget is … once this takes off and you’ll deploy agents per transaction, this will require changes to the infrastructure and the ways in which you manage those agents. People can underestimate that,” he said.

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