Thu Sep 19 08:00:56 UTC 2024: ## FinTechs Drive Payment Innovation with Flexible, Cloud-Based Platforms

**[City, State] –** The rise of FinTech companies has fueled a demand for flexible and agile payment solutions. This has led to the emergence of platform-based approaches, allowing businesses to connect with a range of payment services and capabilities without the need for in-house development.

“Consumers expect seamless payment experiences,” said Edwin Poot, Chief Technology Officer at payment processor Thredd. “They want to use their phones to make purchases both online and in-store, and the platform should intelligently choose the best payment method, whether it’s credit, debit, or buy now, pay later.”

The cloud is enabling this flexibility, according to Poot. “The evolution of cloud computing has allowed technology to move faster, enabling businesses to embrace change and scale quickly.” Thredd, for example, is able to rapidly launch virtual cards and other financial offerings for its partners, including FinTechs.

Thredd’s customers leverage APIs to build, modify, and adjust their own products based on their specific customer needs. The platform supports digital wallets and allows clients to provision virtual cards without worrying about over- or under-provisioning.

“In a serverless environment, we can scale up and down seamlessly without downtime,” Poot explained. “This allows us to quickly test new capabilities and then roll them out on a larger scale.”

The use of microservices allows for the implementation of features incrementally, rather than relying on large releases. This enables ongoing tweaks and adjustments to ensure quality and meet the evolving needs of customers.

Thredd offers customizable features, allowing businesses to tailor their payment solutions without extensive coding. This extends to fraud and risk control, where the platform considers factors like device location and historical usage patterns.

“We’re even looking at fully self-service models,” said Poot. “Customers can set up their own features using our toolkit, which includes third-party integrations.”

This platform approach fosters a collaborative ecosystem, allowing Thredd and its customers to continuously integrate new capabilities and partners.

“We’re always looking for opportunities to partner with innovators and disruptors,” Poot said.

**The rapid innovation in the FinTech space, coupled with the power of cloud computing, is driving a new era of flexible and customer-centric payment solutions.** This trend is poised to continue as consumers demand increasingly seamless and personalized experiences.

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