Thredd
Thredd (ex Global Processing Services)
Thredd (formerly Global Processing Services, rebranded in 2023) is a global issuer-processor: it gives fintechs and companies the platform to issue and process cards, with direct connections as a certified third-party agent to the Visa and Mastercard networks. It supports debit, prepaid and credit programs. It has been in processing since 2007 and today serves over 100 clients across 44 countries, processing billions of transactions per year. As a processor it does not hold end-user funds: those are managed by partner issuers/EMIs. It is a B2B service, not aimed at consumers.
Data & conditions
| Service type | Card issuing / BaaS |
|---|---|
| Pricing model | Not disclosed |
| Card networks | Visa, Mastercard |
| Card types | debit, prepaid, credit |
| Customer type | Fintech, Enterprise, Platforms |
| Fund custody | Self-custody (funds in your control) |
| KYC | Full |
| Supported countries | UK, EEA, US, APAC |
| Regulator | Non è emittente di moneta: opera come issuer-processor certificato dai circuiti (Visa, Mastercard) |
| OAM Italy registration | No |
| Segment | B2B |
| Funding / solidity | Processing since 2007; over 100 clients across 44 countries, billions of transactions processed per year. Rebranded from Global Processing Services (GPS) to Thredd in 2023 |
| MiCA / License status | Issuer-processor certificato Visa e Mastercard (third-party agent) |
Strengths
- Established issuer-processor, certified by Visa and Mastercard with direct connections
- Over 15 years in operation (since 2007), 100+ clients across 44 countries
- Supports debit, prepaid and credit programs at global scale
- Self-custody: funds stay in your wallet — the platform cannot touch them.
Weaknesses
- B2B product: not accessible to end consumers
- Not an issuer and does not hold funds: needs an EMI/bank partner for a full program
- Pricing not public, set on a contractual basis
- Full KYC required: verified identity, zero pseudonymity.
Verdict
Score 4.2/5, very strong profile. In its favour: established issuer-processor, certified by Visa and Mastercard with direct connections. The trade-off to weigh: b2B product: not accessible to end consumers.
On the Sovereignty lens the score is 1.9/5 (weak): the strength is fund control (5.0/5), while privacy & anonymity (0.0/5) is the weak link.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Can a private individual request a card from Thredd?
No. Thredd is a B2B issuer-processor: it provides the technology fintechs and companies use to issue cards. The consumer receives the card from Thredd's client's program, not from Thredd directly.
Does Thredd hold user funds?
No. As a Visa/Mastercard-certified processor it processes transactions, but funds are managed by the program's partner issuer or EMI.
Sources
- Official service page Descrizione · Prodotto Data verified on Jul 17, 2026
- pymnts.com Storia Data verified on Jul 17, 2026
- thredd.ai Clienti · Paesi Data verified on Jul 17, 2026