Reap, a partnership built for scale.

Leveraging Thredd's major card networks to support transaction authorisation and processing.

Use cases

Card issuers Corporate spending
Operating regions

APAC
EXPENSE MANAGEMENT

Helping companies manage corporate spending.

The partner.

Founded in 2018, Reap provides businesses with financial tools, such as corporate credit cards and card-issuing solutions enabling other companies to launch their own branded card programme, cross-border and local payments, and payout APIs.

Reap’s offering is focused on these key products and services:

Reap Card: A corporate credit card boasting flexible bill repayment options in either fiat or digital currencies.

Reap Pay: A payment processing app that simplifies business payments — enabling clients to make local or cross-border payments to over 220 countries/territories in over 15 different currencies.

Card Issuing: Reap provides its clients access to the Visa network and handles the logistics of card payments on their behalf, including production, issuance, BIN sponsorship, and distribution.

Reap has built a global network connecting different markets, partners, and industries, such as Web2 and Web3, to enable smooth, seamless payments. This venture entails processing vast numbers of transactions on Reap Cards, retaining a high rate of transactions per second (TPS), while helping clients operate efficiently and focus on higher-order tasks.

The challenge.

The main issue for Reap’s partners is simple: many Web3 businesses struggle to access traditional financial services, like bank accounts or corporate credit cards. Instead, the payment solutions they can access are often slow and unintuitive to use—not to mention inefficient compared to other options available.

Furthermore, when Reap’s clients plan on launching a global card programme of their own, they typically lack the knowledge and experience in the payment sector to find the right providers to get to market quickly and securely. Reap needed a partner to help them connect with Visa so that they could authorise and process their clients' card transactions.

The solution.

To begin with, Thredd worked to understand Reap's various needs, products, and operations and then built a strategy around our findings to help them deliver the required card solutions.

After this initial discovery phase, we brought on board Thredd's expert solution design team to help Reap deliver the card-based payment products they needed. Thredd then drew upon its extensive network of contacts in the fintech sector to provide Reap with vital connections to key card networks — enabling them to authorise and process the many card transactions their clients demanded.

Following the development of these payment solutions, Reap was assigned a dedicated customer support lead and an account manager to provide ongoing technical support and help with payment processing. These support teams were made available 24/7, meaning Reap is always safe knowing that its cardholders are getting the best possible experience.

The payoff.

As a result of the partnership, Reap has managed to leverage Thredd's payment processing capabilities to process all Reap Card transactions and cards issued by their partners.

Thanks to this collaboration, Thredd supported the significant increase in monthly card transactions, rising from 5,000 monthly transactions in January 2022 to a whopping 3.5 million monthly card transactions as of April 2024.

Furthermore, Reap has expanded its clientele, now serving global Web3 projects that can fully utilise their stablecoins in card repayments. Reap continues to reach and serve a more diverse range of customers.

Thredd has also been flexible enough to support additional payment processing needs as and when they arise, such as security, fraud protection, payment authentication, mobile payments, tokenisation and dispute management, to name but a few.

Commenting on the winning collaboration, a spokesperson for Reap recently stated:

Thredd as a payment processor builds the necessary connections with card networks like Visa to support transaction authorisation and processing, letting Reap focus on its core expertise: card-issuing.

They added: "Additionally, Thredd is built for scale and has supported Reap's rapid growth over the past 12 months, especially after we launched our card-issuing solution in June 2023. Thredd has been able to support this change of scale."