The Philippines’ first fully regulated embedded banking platform aims to empower the nation’s banks and fintechs to quickly launch and scale modern card propositions through its new Cards-as-a-Service (CaaS) solution
Thredd, the leading next-generation global payments processor, announced that Netbank, the Philippines’ first fully regulated embedded banking platform, has selected Thredd to launch its new Cards-as-a-Service (CaaS) solution, enabling fintechs, e-wallets and banks to rapidly deploy modern, flexible card issuing across both consumer and commercial segments.
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This partnership with Thredd empowers Netbank’s clients to deliver innovative card products tailored to the evolving needs of the Philippine market.
Netbank’s CaaS solution leverages Thredd’s comprehensive full-stack card issuing platform, supporting both virtual and physical cards with advanced spend controls, real-time card creation APIs, a robust card management system, an intuitive operations portal, and seamless integration with Google Pay. This partnership empowers Netbank’s clients to deliver innovative card products tailored to the evolving needs of the Philippine market.
Recent central bank and third-party data demonstrate that the Philippines is experiencing significant growth in digital payments volume and value as it accelerates its transition toward a cashless economy, with an estimated compound annual growth of 13.8% in digital payments through 2033.
“The Philippines presents a dynamic growth opportunity, particularly in social commerce, micro merchants, and the SME/SMB segment,” said Jim McCarthy, CEO, Thredd. “Our partnership with Netbank will enable a new wave of consumer and commercial use cases, including expense and disbursement cards, as well as gig economy and contractor payout solutions, supporting the country’s digital transformation.”
“By partnering with Thredd, we are enabling our fintech and EMI partners across the Philippines to quickly and easily launch modern card propositions. This is already a commonly demanded product from our 120+ fintech partners,” said Gus Poston, Founder of Netbank, adding, “This collaboration accelerates our mission to drive financial innovation and inclusion nationwide.”
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