“Can THG's in-house commerce + fulfilment + Merchant-of-Record stack be sold as infrastructure to third-party global brands?”
THG Ingenuity is the B2B ecommerce-services arm of THG plc (The Hut Group), operating under FIC Shareco Limited. It packages THG's in-house commerce, fulfilment and creative-studio stack as services to third-party brands. In 2025 it leaned into Merchant of Record positioning with Checkout by THG Fulfil, competing in the same MoR/cross-border space as Global-e, Reach, and Digital River.
THG Ingenuity processes payments through Checkout by THG Fulfil (self-operated MoR) and 60+ integrated payment providers (unnamed).
THG Ingenuity uses Checkout by THG Fulfil (self-operated) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 3 layers in THG Ingenuity's stack: Payments / PSP (Checkout by THG Fulfil (self-operated MoR) and 60+ integrated payment providers (unnamed)); Lending (Atome BNPL (consumer, Asia markets)); FX & payouts (Checkout by THG Fulfil (self-operated)).
THG Ingenuity is headquartered in Manchester, UK.
Get a read on where your own stack stands against THG Ingenuity and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.