To accelerate the rollout of modern card products across the Philippines, embedded banking platform Netbank has partnered with global payments processor Thredd. Netbank will leverage Thredd's full-stack card issuing platform to power its new Cards-as-a-Service (CaaS) solution. This will enable fintechs, e-wallets, and banks in the Philippines to rapidly deploy and scale virtual and physical card propositions for both consumer and commercial segments.
Philippine embedded bank Netbank selects Thredd to power its new Cards-as-a-Service (CaaS) offering.
Thredd's platform will enable rapid deployment of virtual and physical cards for Netbank's 120+ fintech partners.
The solution supports advanced spend controls, real-time APIs, and integration with Google Pay.
It targets growth in social commerce, micro-merchants, and SME segments in the Philippines.
The partnership aims to support use cases like expense cards, disbursements, and gig economy payouts.
The move aligns with the Philippines' accelerated transition toward a cashless economy.
The Philippines is undergoing a significant shift toward digital payments, with strong projected growth. Netbank, as a regulated embedded banking platform, serves over 120 fintech partners who commonly demand modern card capabilities. By launching a CaaS solution powered by Thredd, Netbank can meet this demand efficiently, allowing its partners to bypass complex, in-house card program development and launch tailored products faster.
Thredd provides the comprehensive technology backbone for Netbank's offering. The platform supports both virtual and physical card issuance, includes advanced spend controls, real-time card creation APIs, a robust management system, and seamless integration with digital wallets like Google Pay. This full-stack approach gives Netbank's clients the flexibility to create innovative card products with the necessary controls and user experience.
The partnership is designed to unlock specific growth areas in the Philippine market. Thredd's CEO highlighted opportunities in social commerce, micro-merchants, and SMEs. The CaaS solution will enable new use cases such as corporate expense and disbursement cards, as well as payout solutions for the gig economy and contractors, supporting the broader digital transformation and financial inclusion goals in the country.
This collaboration represents a strategic building block for the Philippine fintech ecosystem. By providing a streamlined, regulated path to card issuance, Netbank and Thredd lower the barrier to entry for innovators. This can spur increased competition and product diversity in the payments space, ultimately providing more choices and better financial tools for both consumers and businesses as the nation moves toward a cashless future.
About Netbank
Netbank is the first fully regulated bank focused on embedded banking in Southeast Asia. It provides banking services, on a fully white-labelled basis, to allow Filipino fintechs to grow fast and reduce their costs, thus accelerating financial inclusion and innovation. It provides simple, creative, low-cost solutions so that fintechs can open accounts, offer loans and manage payments.
About Thredd
Thredd is the trusted, AI-first, cloud-enabled issuer processing platform powering the next generation of global payments. Through a single API, unified platform, Thredd delivers debit, credit, digital wallet and ledger capabilities to over 100 fintech, digital banks and embedded finance providers, across 47 countries, processing billions of transactions annually. With a global operating footprint, local expertise, and AI integrated into every layer of its platform, Thredd has been purpose-built for speed, scale and modern issuance models, setting the standard for market entry, client experience, security, regulatory rigour and operational resilience.
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