Fintech Giants Thredd and Zilch Fuel Industry Growth with Renewed Partnership
Amsterdam, Friday, 2 August 2024.
Next-generation payment platform Thredd reports significant growth in fintech-driven digital payments, bolstered by a renewed partnership with Zilch, the world’s first ad-funded payment network. This collaboration underscores the fintech sector’s robust expansion and future potential in revolutionizing digital transactions.
Thredd’s Industry-Wide Growth
Thredd, a rapidly expanding global payment platform, has reported substantial growth across various sectors. The platform has seen a remarkable increase in transactions, particularly in the Buy Now, Pay Later (BNPL) segment, which has surged by 56% year-to-date[1]. This growth is mirrored in other areas such as Corporate Spend Management, which saw a 74% increase, and B2C Retail, which experienced a 28% rise in transactions. These figures highlight the increasing adoption of fintech solutions in both consumer and business markets.
Renewed Partnership with Zilch
In a strategic move to further solidify their market presence, Thredd has renewed its partnership with Zilch. Zilch, known for being the world’s first ad-funded payment network (ASPN), has leveraged Thredd’s advanced transaction management capabilities to process over 10 million monthly payments. This collaboration has enabled Zilch to focus on expanding its user base and achieving significant trade volumes with retail partners. As of now, Zilch boasts over 4 million registered users and has generated more than $3 billion in revenue with Thredd as a key partner[2].
Leadership Perspectives
Jim McCarthy, Chief Executive Officer at Thredd, emphasized the importance of this partnership in driving the company’s growth. ‘The expansion we have seen is a testament to our resilience and the demand for new payment applications in both B2C and the rapidly growing B2B payment traffic,’ McCarthy stated. He also highlighted the atypical growth in debit and prepaid transactions, which underscores the evolving landscape of digital payments[3].
Future Potential and Market Expansion
Looking ahead, the renewed collaboration between Thredd and Zilch is set to catalyze further advancements in the fintech industry. The partnership is expected to drive the adoption of innovative payment solutions, making digital transactions more seamless and accessible. With Thredd’s robust platform and Zilch’s unique ad-funded model, the fintech sector is poised for continued growth and transformation, paving the way for a future where digital payments dominate the market[4].