Thredd, a UK-based issuer processing platform, has bolstered its collaboration with MuchBetter, a consumer wallet and prepaid card provider. This partnership now facilitates MuchBetter’s entry into the Israeli market, following successful joint ventures in the United Kingdom and Canada. It marks Thredd’s support for the third international market of MuchBetter’s programme.
Under this enhanced agreement, Thredd provides comprehensive processing solutions for MuchBetter’s digital wallet and prepaid card services in Israel. These include transaction processing, security measures, and overall programme management. The current implementation enables consumers to load funds and conduct payments using both physical and virtual cards, with plans to expand the range of card types as the service scales.
Program Structure and Regulatory Compliance
The Israeli programme operates on the Mastercard network and utilises MuchBetter’s UK licence, which has been approved by Mastercard for cross-border use. This arrangement enables MuchBetter to enter Israel without needing a local licence, showcasing how a recognised e-money licence can be effectively used for international expansion under framework agreements with payment networks.
MuchBetter started as a solution for digital commerce payouts but has since expanded its services to cater to diverse consumer and corporate needs. The company’s growth strategy relies on the efficient deployment of new market programmes while maintaining consistent compliance and operational standards across different regions.
Thredd’s platform is built to support multi-market launches from a unified infrastructure, significantly reducing the operational complexities involved in entering regulated markets. For MuchBetter, this translates into accelerated time-to-market in new territories, setting the stage for further regional growth.
The launch in Israel represents broader industry trends where providers are increasingly looking for scalable processing solutions that can support international expansion without needing separate technical integrations for each jurisdiction. As Open Banking frameworks and digital payment adoption continue to grow across the Middle East and North Africa region, operating under a single licence and processing relationship may become an increasingly significant aspect of market entry strategies.
