Southeast Asian financial services app BigPay, has selected Thredd, to power its payment capabilities. This will begin with the company’s upcoming expansion into Thailand, with Indonesia and the Philippines following in early 2024.
BigPay currently operates in Malaysia and Singapore. It provides a full suite of financial services to over 1.4 million carded users. With features such as payments, international transfers, micro-insurance, personal loans and spending analytics. One key offering from BigPay is Stashes and Round-ups. This is a feature that helps users to put aside money by rounding up each transaction.
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BigPay collaborates with airasia Superapp
In addition to its regional expansion plans, BigPay announced its upcoming collaboration with airasia Superapp. The partnership is for travel booking payment on the platform. More of BigPay‘s products will be customised for, embedded and available directly on airasia Superapp. This will allow users to conveniently pay via BigPay for flights, hotels, and more after linking their accounts.
Mitherpal Sidhu, COO, BigPay said: “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. Thredd’s next-gen payments tech is well-known for its reliability and flexibility. Also, their investment in dynamic emerging technologies, like generative AI, is a real differentiator. They know Asia and are experts in powering embedded finance. That’s important to a fast-growing company like BigPay.”
Damien Gough, Head of Asia-Pacific, Thredd, said: “Embedded finance is forecast to unlock $242bn in revenue opportunities within the SMB and consumer segments across Asia-Pacific by 2025. Solutions like BigPay’s are a crucial element of this digital transformation, pioneering a new interconnected financial services ecosystem that benefits all Southeast Asian residents. We eagerly anticipate integrating Thredd’s next-gen tech into BigPay’s future-focused platform and partnering with them as they expand.”
Thredd has experienced record growth across Asia-Pacific in 2023 to date. This is with business wins in Australia, Hong Kong, New Zealand, Singapore, and Malaysia, powering card programmes and servicing customers across the entire region. Thredd continues to lead in the embedded finance, corporate expense management, and marketplace segments, serving Asia-Pacific-based customers from its offices in Singapore and Australia.
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