BigPay selects Thredd to power its payments processing across SEA

By Gloria Mathias

BigPay, a Southeast Asian financial services app, has selected Thredd, a payments platform to power its payment capabilities, starting with BigPay’s upcoming expansion into Thailand, with Indonesia and the Philippines following in early 2024.

BigPay currently operates in Malaysia and Singapore and provides a full suite of financial services. With features such as payments, international transfers, micro-insurance, personal loans, and spending analytics, the goal is to help Southeast Asians level up their lives.

One key offering from BigPay is Stashes and Roundups, a feature that encourages a habit of saving money through saving goals and helps users put aside money by rounding up each transaction.

“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,” said Mitherpal Sidhu, COO, BigPay.

“Thredd’s next-gen payments tech is well-known for its reliability and flexibility, and 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,” added Sidhu.

Damien Gough, Head of Asia-Pacific, Thredd, said, “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 across the region.”

Thredd has experienced record growth across Asia-Pacific in 2023 to date with Australia, Hong Kong, New Zealand, Singapore, and Malaysia, powering card programmes servicing customers across the entire region. It continues to serve embedded finance, corporate expense management, and marketplace segments, serving Asia-Pacific-based customers from its offices in Singapore and Australia.