Thredd, a leading global payments processor, has completed the migration of BigPay’s virtual and physical card portfolio from a legacy system to Thredd’s next-generation platform—a move that underscores the company’s expertise in complex, high-volume card migrations. The transition involved more than 2.5 million cards, demonstrating Thredd’s combination of advanced technology, structured processes, and deep migration experience.

This milestone comes as the payments industry faces growing pressure to modernize. Analysts warn that retail banks stuck on outdated platforms risk losing 10% to 15% of payments revenue annually due to slow innovation, operational inefficiencies, and an inability to deliver hyperpersonalized digital experiences. With over 100 million cards expected to migrate to modern platforms over the next five years, experienced migration partners are in high demand.

Jim McCarthy, CEO of Thredd, framed the situation bluntly: “Portfolios trapped on legacy platforms are expected to incur unrecoverable losses in market share, customer base, and revenue by 2030.”

For BigPay, smooth service continuity was key. Aireen Omar, Group CEO of BigPay, said, “Even short disruptions can affect customer confidence. Thredd was well-positioned to support our priorities and ensure a seamless migration for our cardholders.”

The migration followed a highly structured approach, with meticulous planning and transparent communication across all stakeholders. Thredd emphasizes that such initiatives are far more than IT upgrades—they are business transformation projects that protect and maximize the value of financial portfolios in a rapidly modernizing industry.

Damien Gough, Head of Asia Pacific at Thredd, said, “Most organizations only face a migration once in a generation. Our repeatable process, proven tools, and experienced team allow us to anticipate and mitigate risks, guiding clients through a full business transformation rather than just moving data.”

As the wave of replatforming accelerates, Thredd is positioning itself as the go-to partner for banks and fintechs looking to modernize with minimal risk, combining process rigor, technology, and people to tackle some of the most complex migrations in the sector.