BigPay Partners with Thredd to Boost Payment Processing Across Southeast Asia

Southeast Asian fintech firm BigPay has teamed up with paytech company Thredd to enhance its payment processing features throughout the region. 

Established in 2017, BigPay provides a financial services application to more than 1.4 million users in Singapore and Malaysia, offering features such as local and international payments, global transfers, micro-insurance, personal loans, and expense analytics. 

It intends to broaden its services to Thailand this year, with Indonesia and the Philippines set to come in early 2024. “As we prepare to bring BigPay to new markets across Southeast Asia, we need a payments technology partner with a deep understanding of digital banks, embedded finance, and the complexities of the region,” states Mitherpal Sidhu, chief operating officer (COO) at BigPay. 

Sidhu points out that Thredd’s payment system is “well-known for its reliability and flexibility, and their investment in dynamic emerging technologies, like generative AI, is a real differentiator”.

Previously called Global Processing Services (GPS), Thredd asserts that it has achieved “record revenue growth” throughout the Asia-Pacific region this year, securing contracts in Australia, Hong Kong, New Zealand, Singapore, and Malaysia. The firm asserts that it handles "billions" of debit, prepaid, and credit transactions each year, supporting more than 100 fintechs, digital banks, and embedded finance entities in 44 nations.