Thredd Completes Large-Scale Migration of BigPay’s Card Portfolio, Reinforcing Its Leadership in Next-Generation Payments Modernisation
Thredd, a global leader in next-generation payment processing technology, has announced the successful migration of BigPay’s full portfolio of physical and virtual cards from its legacy processor to Thredd’s advanced, cloud-native platform. The project—spanning more than 2.5 million cards—marks one of the largest migrations Thredd has completed in the Asia-Pacific region and further solidifies the company’s reputation as the go-to partner for complex, high-volume portfolio transitions.
The accomplishment represents far more than a technical upgrade. It reflects a broader industry shift toward modern, flexible, and innovation-ready payments infrastructure—a shift being accelerated by changing customer expectations, competitive pressures, and rapid digital transformation across global financial services. As banks and fintechs confront rising demand for agility, resilience, and highly personalised payment experiences, the ability to execute seamless, large-scale migrations has become a defining competitive advantage.
A Migration Milestone in a Period of Industry Transformation
The migration of BigPay’s card portfolio comes at a strategically important time for the global payments ecosystem. Industry analysts have increasingly warned that institutions clinging to outdated processing platforms face significant financial and operational risks. According to recent estimates, retail banks that fail to modernise their payments infrastructure could see 10% to 15% of their payments revenue erode annually, primarily due to bottlenecks, declining service reliability, and an inability to meet customer expectations for speed, flexibility, and digital-first interactions.
This is not a distant concern—replatforming pressures are mounting rapidly. Over the next five years, analysts project that more than 100 million payment cards each year will migrate from legacy systems to modern, cloud-native platforms. Payments processors that can execute these transitions efficiently, securely, and without customer disruption will play a pivotal role in shaping the industry’s next decade.
Thredd’s successful completion of the BigPay migration underscores its readiness to lead this next wave of modernisation. The company has completed several major migrations in recent years, and its track record, combined with its refined methodology, continues to position it as a preferred partner for institutions navigating digital transformation.
Executive Perspectives: A Strategic Window—and a Warning to the Industry
Jim McCarthy, CEO of Thredd, emphasised the urgency of modernisation across the payments landscape. Calling this moment a “strategic window—and a technological ultimatum,” McCarthy pointed to the cumulative risks associated with maintaining portfolios on aging, rigid infrastructure.
“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,” he said.
McCarthy’s comments reflect mounting evidence that outdated systems are increasingly incompatible with the speed and personalisation that digital consumers expect. Payments are now integrated into every part of the consumer journey—from budgeting and rewards to real-time financial insights. Institutions unable to accommodate these dynamic needs face growing pressure from nimble fintechs and challenger banks built on cloud-native stacks.
For BigPay, a fast-growing financial services platform serving consumers across Southeast Asia, choosing the right migration partner was essential. The company’s customer base relies heavily on seamless digital interactions, meaning even brief disruptions could affect trust and long-term engagement.
“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.”
Omar highlighted that the migration was carried out with significant planning, rigorous coordination, and transparent communication among all stakeholders—a process that ensured continuity for BigPay’s customers throughout each step of the transition.
A Highly Structured, Low-Risk Migration Approach
Migrations of this scale are among the most complex undertakings in the payments industry. They require technical precision, coordinated planning, and a deep understanding of risk mitigation—not only to move data securely but to ensure that millions of cardholders experience no change or disruption in their day-to-day financial activities.
Thredd adopted a highly structured, multi-phase approach for BigPay’s migration. The process included:
- Extensive pre-migration assessments, examining data architectures, card lifecycle management, and operational dependencies
- Joint planning workshops involving BigPay, Thredd, and additional ecosystem partners
- Transparent risk-tracking frameworks to identify and mitigate issues before they could affect customers
- Parallel testing environments, allowing teams to validate real-world performance
- Contingency plans to manage unexpected scenarios without impacting cardholder experiences
The outcome was a transition so seamless that most end users were unaware that a major system overhaul had taken place in the background. For BigPay, this meant preserving customer confidence while positioning the company for accelerated digital innovation.
Why Migrations Are Now Business Transformation Initiatives
According to Thredd, the migration of BigPay’s portfolio reflects a broader reality: many financial service providers are no longer waiting for system failures before making the leap to new platforms. Instead, they are proactively migrating their most profitable and strategically valuable portfolios to next-generation systems to protect long-term revenue streams and unlock new growth opportunities.
“These are not mere IT projects—they are business transformation initiatives essential for future growth,” said Damien Gough, Head of Asia Pacific at Thredd.
The statement reflects a major evolution in how financial institutions view their payments infrastructure. Legacy systems, once seen as stable and sufficient, are now viewed as barriers to innovation. They often lack the flexibility necessary for:
- real-time payment capabilities
- customised card products
- API-driven integrations
- rapid product testing
- digital-first customer journeys
- dynamic fraud management
- scalable global expansion
Modern processors like Thredd are designed to enable these capabilities from the outset. By moving to next-generation platforms, institutions can quickly roll out new card features, launch differentiated customer experiences, and reduce operational costs associated with legacy architecture.
Deep Expertise: Thredd’s People and Processes as a Competitive Advantage
Thredd attributes much of its success to the deep expertise of its team and its refined, repeatable migration methodology. Many of the company’s migration specialists have spent years managing complex transitions across multiple regions, industries, and regulatory environments. Their collective experience enables Thredd to anticipate challenges that others might overlook.
“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.”
The company’s approach is rooted in:
- A dedicated migration task force with specialists in configuration, data mapping, risk management, compliance, and customer experience
- A globally tested migration framework refined through dozens of portfolio transitions
- Robust governance structures ensuring alignment among all stakeholders
- Advanced technology and automation tools that reduce manual effort and minimise the risk of error
This combination of human expertise and process rigor has helped Thredd consistently deliver high-quality outcomes for clients with complex or large-scale migration needs.
Positioning the Industry for the Future
As migration activity accelerates worldwide, Thredd believes that modernising payments infrastructure is now a foundational element of long-term competitiveness. Institutions still operating on legacy technology face a growing list of challenges—from rising maintenance costs and security vulnerabilities to slow product cycles and an inability to deliver the type of hyperpersonalized experiences that consumers increasingly expect.
By contrast, those transitioning to next-generation platforms gain access to:
- Faster time-to-market for new digital products
- Lower operational costs through automation and improved efficiencies
- Stronger resilience and fewer outages
- Real-time data insights that can drive better decision-making
- Enhanced compliance and security capabilities
- Easier global expansion supported by scalable technology
Thredd positions itself as a strategic partner capable of guiding institutions through this shift—not only through technical expertise but also by supporting broader business goals.
“As the migration wave accelerates, Thredd stands ready to help the industry modernise,” the company said. “We de-risk 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
Source Link:https://www.businesswire.com/
