Vault Selects Thredd as Strategic Issuer Processing Partner for Australia and UK Expansion

Thredd, the leading next-generation global payments processor, today announced that Vault Payment Solutions, Australia’s leading provider of secure card payments, has selected Thredd to power its expansion into new regions on Mastercard’s global network. The partnership will support Vault’s launch of new prepaid, debit, and private-label card programmes in Australia and the United Kingdom.

Vault, which recently became a Mastercard Principal Issuing Partner, provides full end-to-end programme management and advanced card infrastructure for reward programmes, gift cards, embedded finance, and closed-loop, private-label use cases. The partnership enables Vault to run a diverse portfolio of card programmes leveraging Thredd’s full-stack issuing and processing capabilities, including virtual and physical cards, tokenization fraud monitoring, 3DS, digital wallet integrations and transaction controls.

The company selected Thredd following a competitive evaluation that included multiple global processors. In a market where low-cost, cloud-native platforms have struggled to deliver at scale, Vault chose a partner with a proven ability to support complex, multi-region launches. According to both teams, Thredd won the engagement based on a combination of capabilities, global support, technical flexibility, on-the-ground expertise in Australia and the UK, and a strong collaborative approach with Mastercard.

“Vault is exactly the kind of forward-thinking partner we love to collaborate with,” said Damien Gough, Head of Asia Pacific at Thredd. “Their leadership in programme management and embedded payments, combined with their growing global footprint, aligns perfectly with Thredd’s mission to enable the most innovative card propositions in the market. We’re proud they selected us following a competitive process, and we look forward to supporting their expansion across Australia, the UK, and beyond.”

“Connecting directly to Mastercard and selecting an issuer processing partner was a pivotal decision for us,” said Michael Jess, Founder and CEO, Vault Payment Solutions Group. “Thredd stood out not only for its robust technology and full suite of capabilities, but also for its people, regional expertise, and collaborative approach. Our teams share a deep understanding of complex, modern card use cases, and together we’re enabling the next wave of innovative, embedded finance experiences for our clients.”

This partnership reinforces Thredd’s position as the processor of choice for innovative, fast-scaling programme managers and strengthens our mission to power the next generation of embedded, global card experiences.