Loyalty technology provider Gennius XYZ selected payments processor Thredd as its global issuer-processor partner.
This partnership will facilitate Gennius XYZ’s expansion into new markets and will power instant issuance, virtual cards and multi-currency loyalty innovation, the companies said in a Monday (Oct. 20) press release.
Gennius XYZ’s platform consolidates points, miles and digital assets into a “tokenized one currency” with which consumers can earn and redeem these rewards across more than 150 million merchants around the world, according to the release.
By partnering with Thredd, Gennius XYZ adds the ability to instantly issue virtual cards and gains access to cloud-native payments infrastructure that supports real-time authorization and cross-border scalability, per the release.
“At Gennius XYZ, we believe loyalty points should be as valuable and usable as cash,” Rodrigo McCarthy, chief administrative officer at Gennius XYZ, said in the release. “Thredd gives us the scale and reliability to turn that belief into reality, enabling us to issue instantly, expand globally and deliver seamless experiences to our partners and customers.”
Thredd Chief Revenue Officer Kevin Fox said in the release that Gennius XYZ is “changing how consumers think about rewards” and that the Thredd platform will “provide the processing backbone behind their global vision.”
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“Our platform is designed to help innovators move fast, expand internationally and deliver payment experiences that didn’t exist before,” Fox said.
This is the latest of several partnerships announced by Thredd.
The company said Oct. 1 that financial infrastructure platform PhotonPay joined forces with Thredd to bolster the underlying issuer processing architecture of PhotonPay card worldwide. PhotonPay is using Thredd’s modular technology to expand the reach of its card solutions while improving operational efficiency and making sure it is in alignment with local regulations.
In September, Thredd expanded its partnership with card/payment/foreign exchange specialist OFX. After launching in Australia, Canada and Europe, OFX is extending its reach into the United States and parts of the Asia Pacific region. As it does so, Thredd is offering 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.
