Finsei, a London-based payments company, has selected Thredd to provide the processing infrastructure for its new Mastercard debit offering.

Under the Thredd Finsei partnership, business clients will be able to receive a payment in one currency and spend it in another from the same account, according to Finsei.

Many businesses that operate across markets rely on separate providers for accounts, payments, foreign exchange (FX), cards and expenses. Finsei aims to bring these services together in a single platform.

Physical and virtual cards will be available at launch, with support for Apple Pay and Google Pay to follow.

As part of the agreement, Thredd will provide payment processing and automated back-office capabilities.

Its services include tokenisation, which replaces card details with a digital token, and push provisioning, which allows users to add a card to a digital wallet from within an app.

The card programme will also use 3D Secure, an extra verification step for online card payments, as well as fraud transaction monitoring.

“Businesses increasingly expect their financial tools to work together rather than operate as a collection of disconnected services,”

said Jim McCarthy, CEO at Thredd.

“Our clients run businesses across borders, and they don’t want one provider for accounts, another for FX and a third for cards,”

said Artjoms Dozorcevs, CEO at Finsei.

Finsei joins Thredd’s list of fintech and payments clients in the UK and Europe.

These companies use Thredd’s issuing and processing services to build debit, prepaid and credit cards.

Outside Europe, the company has an office in Singapore, and its regional clients include Southeast Asian fintech BigPay.

Featured image: Edited by Fintech News Switzerland, based on image by kues1 via Magnific.