First-to-market, real-time, flexible product codes now available for Thredd’s Online Travel Agency (OTA) customers
Thredd, a leading next-generation global issuer processor, has announced an exciting breakthrough for its travel agency customers: the ability to control payments in real time through new flexible product codes made possible by the Mastercard Wholesale Program (MWP). This innovative capability allows Thredd’s clients to respond more dynamically to the needs of their suppliers, adapting to factors like geography, product type, and volume. By giving travel agencies greater visibility and control over their business-to-business payments, Thredd is helping them optimize how they manage transactions with travel suppliers.
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The goal behind this advancement is clear — to speed up and simplify the process of provisioning and settling payments, while reducing costs. Thredd believes this will strengthen relationships between travel agencies and their suppliers, offering more flexibility for growth and scalability across different markets.
The Mastercard Wholesale Program itself was created with the unique demands of the global travel industry in mind, focusing on improving security and predictability in cross-border payments. Responding to industry feedback, the program has evolved to enable real-time payment control, allowing issuers to switch between product codes instantly. These product codes empower travel organizations to use virtual card technology in a way that matches supplier requirements on the fly.
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Thredd stands out as the first issuer-processor to offer this enhanced feature, reflecting the powerful collaboration between modern payment processors and global networks. Chiara Quaia, Senior Vice President of Travel at Mastercard, expressed enthusiasm about the partnership and the continued evolution of the program, emphasizing Mastercard’s commitment to building payment technologies tailored to the travel sector.
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Jim McCarthy, Chief Excutive Officer of Thredd, highlighted the critical importance of speed and cost-efficiency in travel payments. He explained that with these new flexible product codes, online travel agencies (OTAs) and other travel clients can unlock more agile, scalable payment flows while keeping operational complexity low. This innovation is a strong example of how modern financial technology can solve specific challenges faced by industries like travel, creating smoother, more efficient payment experiences for everyone involved.
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