Thredd has become the first to offer its travel agency clients real-time payment control through new flexible product codes introduced via the Mastercard Wholesale Programme (MWP).

The capability enables clients to adjust payments based on geography, product type and volume, aiming to improve visibility, adaptability and control in business-to-business travel transactions.

The MWP, developed to address the global nature of the travel sector, provides security and predictability for cross-border payments between travel buyers and suppliers.

Following industry feedback, the programme now allows issuers to switch between product codes in real time, enabling travel organisations to adapt virtual card technology according to supplier or product requirements.

“Mastercard is committed to curating and scaling payment technologies that meet the specific needs of the travel sector,”

said Chiara Quaia, Senior Vice President, Travel at Mastercard.

“We’re pleased to see Thredd launch the flexible product codes now available through the Mastercard Wholesale Programme, a solution we will continue to develop based on industry feedback.”

Jim McCarthy, CEO of Thredd, said:

“In the travel space, speed and cost-efficiency are critical. With the enhanced flexible product code feature, enabled through the Mastercard Wholesale Programme, OTAs and other travel clients can adopt more agile and scalable payment flows while keeping operational overhead low.”

According to Thredd, the feature is designed to help optimise costs, improve payment speed to travel suppliers, strengthen supplier relationships and support market expansion.

Featured image credit: Edited by Fintech News Switzerland, based on image by pbstudio48 via Freepik