Thredd Powers Successful Migration of BigPay’s Card Portfolio to Next-Gen Platform

The transition of millions of cards showcases Thredd’s superior capabilities amid a high-stakes, global trend of sunsetting legacy processing engagements

Thredd, the leading next-generation global payments processor, has successfully migrated BigPay’s virtual and physical card portfolio from its previous, legacy processor to Thredd’s next-generation platform, underscoring Thredd’s leadership in complex card portfolio migrations. The migration project, one of several in recent years, included over 2.5 million cards and highlights Thredd’s unique combination of deep migration experience, robust processes, and advanced technology—qualities increasingly critical as the industry faces a wave of modernisation and replatforming.

This achievement comes at a pivotal moment for the industry. Industry analysts estimate that retail banks failing to modernise could see 10% to 15% of their payments revenue at risk annually as legacy platforms struggle to keep pace with demands for hyperpersonalization, digital experiences, faster time-to-market, and operational efficiencies. With more than 100 million cards per year expected to move to modern platforms over the next five years, the need for experienced migration partners has never been greater.

“The industry is facing a strategic window—and a technological ultimatum,” said Jim McCarthy, CEO of Thredd, adding, “Portfolios trapped on legacy platforms are expected to incur unrecoverable losses in market share, customer base, and revenue by 2030 due to the inability to innovate and rein in the high cost of outages and back-office inefficiencies.”

“Cardholders rely on consistent service, and even short disruptions can affect their confidence,” said Aireen Omar, Group CEO of BigPay. “As our customers’ needs continue to grow, it is important to work with a partner who understands our priorities and has a strong track record. Thredd was well-positioned to support that.”

The BigPay migration was executed through a highly structured process, with extensive planning and transparent communication among all parties, he said, ensuring a seamless transition for cardholders.

According to Thredd, the BigPay migration exemplifies a broader industry trend: financial service providers proactively moving their most profitable customer portfolios to next-generation platforms to protect and monetise their investments, rather than risk losing them to more agile competitors.

“These are not mere IT projects—they are business transformation initiatives essential for future growth,” said Damien Gough, Head of Asia Pacific at Thredd.

A track record built on people and process

Thredd’s track record is built on the expertise of its people—seasoned professionals who have collectively managed dozens of migrations, including some of the most complex in the industry. “Most organisations will only face a migration once in a generation,” said Gough. “Our repeatable process, proven tools, and deep experience mean we can anticipate and mitigate risks others might miss. We don’t just move data—we guide clients through a business transformation.”

As the migration wave accelerates, Thredd says it stands ready to help the industry modernise, de-risking the journey with proven expertise, process rigour, and cutting-edge technology.

About BigPay

BigPay is a money app that puts the customers’ needs at the centre, focusing on transparency, low fees and secure technology. BigPay believes that banking should be accessible to everyone, no matter their age, occupation or nationality.

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. Learn more at www.thredd.com

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