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August 17, 2023

On the web

Marqeta Reports Second Quarter 2023 Financial Results, Announces Four Year Extension to Cash App Contract

Businesswire

"Marqeta highlighted several recent business updates that demonstrate its current business momentum:...Marqeta announced today that it had signed a four year extension with Block to continue powering its popular Cash App card product...Marqeta announced a new expansion into Brazil with a partnership with Latin American banking-as-a-service platform Fitbank."

August 15, 2023

On the wires

August 9, 2023

On the web

Marqeta Extends Block Partnership as Revenues Rise

AltFi

"Global card issuer Marqeta has signed a four-year extension of its partnership with Block as its revenues increased by nearly a quarter year-over-year (YoY) for Q2 2023. The company will continue to power Block’s mobile money transfer app Cash App through to 2027, and has also added a new partnership branching into Brazil with banking-as-a-service platform Fitbank."

July 12, 2023

On the web

June 23, 2023

On the web

Tuum Joins Up with Marqeta for Integrated Fintech Solution

Marqeta

"Today, Tuum announced our partnership to offer a pre-integrated fintech solution, accelerating time to market for Tuum’s customers by working with our open API platform. European banks and fintechs will be able to build flexible card programmes that deliver industry-leading modern digital payment experiences while saving resources, time and money."

June 6, 2023

On the wires

April 14, 2023

On the wires

Marqeta Survey: Over Half of SMBs Are Owed up to £75,000 Each Month in Outstanding Invoices

Businesswire

"The highest levels of inflation seen in decades are squeezing small businesses and creating an opportunity to reinvent how they access working capital, according to a new survey published today by Marqeta, the global modern card issuing platform. The company’s ‘Small business financing done differently’ research draws upon interviews with hundreds of small to medium sized businesses (SMBs) across Europe, looking at the opportunities for BNPL use by businesses as a mechanism to make access to capital easier without increasing overall debt risk."

March 21, 2023

On the wires

Marqeta Announces Partnership with Stables in Australia to Power Prepaid Card

Businesswire

"Marqeta, the global modern card issuing platform, today announced a new partnership with Stables (formerly Tiiik) to power its new Mastercard prepaid card. Based in Sydney, Australia, Stables is a digital wallet that allows users to spend, send and earn stablecoins, all on one balance. With Marqeta’s dynamic spend controls and Just-in-Time funding capabilities, Stables’ customers will be able to convert stablecoins into fiat and spend wherever Mastercard cards are accepted online and in-store globally."

January 30, 2023

On the web

January 19, 2023

On the wires

December 15, 2022

On the wires

Rakuten France Launches New Integrated Payment and Cashback Solution, Club R Pay

Businesswire

“Rakuten France has announced the launch of a brand-new integrated payment solution, Club R Pay, becoming the first e-commerce player to offer such a system in marketplaces. A universal integrated payment solution, Club R Pay facilitates purchases for the 12 million members of the Club R loyalty program on over 2,000 sites while they enjoy their Rakuten rewards. This new initiative allows Rakuten to streamline the purchasing process and support its partners in their digitalisation and development…Thanks to strategic partnerships with Mastercard, the global payments network operating across 210 countries and territories, and Marqeta, the global modern card issuing platform who will power single-use virtual cards, Club R Pay provides an additional security guarantee and reduces payment risks.”

December 7, 2022

On the wires

Marqeta Announces Integration with Mastercard Track Instant Pay Virtual Card Solution

Businesswire

“Marqeta, the global modern card issuing platform, today announced that it has integrated Mastercard Track™ Instant Pay, a next-generation virtual card solution that uses machine learning and straight-through processing to enable instant payment of supplier invoices. With Track Instant Pay, Marqeta customers in the U.S. will be able to immediately authorize a payment to suppliers after invoices are received instead of waiting for invoices to be approved manually, freeing up time to focus on growing their businesses instead of administrative tasks. This payment process empowers Marqeta customers to pay invoices more efficiently and access cost savings by avoiding costly check processing fees.”

October 25, 2022

On the web

Fintech Marqeta Pushes into Banking for Next Growth Phase

Reuters

“Marqeta, a fintech company focused on payments services, is launching a suite of new banking products in a major push to deepen its relationships with customers which include Coinbase, Uber and DoorDash. The new “banking as a service” platform includes 40 new application programming interfaces, or APIs, that will be offered through Marqeta’s existing bank partners to provide customers with “demand deposit” accounts (such as checking accounts), early-pay capabilities and instant funding, along with other features.”

October 24, 2022

On the web

Marqeta to Offer Banking Services as it Expands Beyond Card Issuing

MarketWatch

“Marqeta Inc. is expanding into banking products as the company looks to cash in on the wave of businesses that want to add financial-services offerings to their applications. The company is introducing demand-deposit accounts, which provide a traditional bank-account experience that’s tied to a debit card, along with the capacity for direct deposits and early access to pay. The company will also provide support for cash-loading and fee-free ATMs, bill payments and instant funding. It will further allow for automated clearing house (ACH) payments through a Plaid integration (subscription required).”

October 19, 2022

On the web

Algbra Partners With Marqeta to Deliver New ‘Financial Movement’ for Communities and the Environment

Businesswire

“Algbra, a sustainable and values-focused digital finance innovator dedicated to providing ethical money solutions and promoting financial wellbeing, has announced a partnership with Marqeta. Marqeta is the global modern card issuing and payments processing platform, that empowers its partners to create customised and innovative payment cards, giving them the ability to build more configurable and flexible payment experiences. Through this new partnership, Algbra will leverage Marqeta’s open API technology to enable payments via its ethical finance app. The Algbra app’s features include a carbon footprint calculator for purchases, the easy ability to offset that carbon, transparent fixed rate fees and spending round-ups for good causes. This is underpinned by the company’s commitment for 10% of its profits to be directed to community projects. The partnership reflects a growing demand in the financial sector for digital solutions capable of supporting ethical and environmental objectives.”

October 6, 2022

On the web

Uber Partners with Mastercard, Marqeta, and Branch to Launch New Uber Pro Card, Offering Faster Payments and Fuel Rewards for Drivers

Mastercard

“Uber drivers, couriers to get up to 10% cashback on gas; 12% on EV charging Uber today announced a new partnership with Mastercard, Marqeta, and Branch to power the Uber Pro Card, an enhanced loyalty and payments experience that will help drivers and couriers save on gas, fees, and other expenses. Built for drivers and couriers, the Uber Pro Card offers customized perks including up to 10% cashback on gas and up to 12% on EV charging.”

September 22, 2022

On the web

Marqeta Study: Credit Cards and Buy Now, Pay Later Services Rise in Popularity as Australian Consumers Face Dual Squeeze of Rising Interest and Inflation Rates

Businesswire

“Actively rising inflation rates and continued consumer uncertainty are denting Australian consumer confidence and raising awareness of credit and BNPL options, according to a new survey published today from Marqeta, the global modern card issuing platform. The company released its annual State of Credit report for 2022, which surveyed 4,000 consumers globally – including 1,000 in Australia – highlighting consumer sentiment around spending trends, alongside consumer credit experiences and preferences. In Marqeta’s 2022 State of Credit report almost one-third (31%) of Australian consumers surveyed said that they struggled more with making credit card payments in the last 12 months.”

July 20, 2022

On the web

Marqeta Brings Modern Card Issuing to Transit Vertical, Partnering With Mastercard Prepaid Managed Services (MPMS) to Enable Seamless Payment Experiences for Transport for NSW

Businesswire

“Marqeta, the global modern card issuing platform, today announced an innovative new transport partnership. Marqeta was named as the payment processor of choice for Opal Plus, the new transit program for Transport for NSW (TfNSW), in partnership with Mastercard Prepaid Managed Services (MPMS). The New South Wales government is introducing Opal Plus, a Mobility as a Service app within the Opal system, which allows subscribers to plan, book and pay for a tailored commuter experience directly from their mobile devices.”

June 8, 2022

On the web

Marqeta: 70% of Consumers Surveyed Say the Experience of Getting a Loan is a Decade Behind Online Banking

Business Wire

Marqeta, the global modern card issuing platform, today released new data from a survey of European consumers on their attitudes to and experiences of lending. The findings – part of Marqeta’s new report “Seeking out the alternatives: how consumers are engaging with the lending 3.0 landscape” – show many consumers are frustrated with how outdated the lending industry is, saying it is a decade behind online banking. Consumers also want more clarity, with 75% of respondents saying they “switch off” when prospective lenders use industry jargon and 80% believing that lenders try to obscure the final cost of a loan. This lack of clarity is often compounded by consumer experiences of lending, with 55% saying it takes too long for money to come in once a loan has been accepted.

May 24, 2022

On the wires

Marqeta and Alviere Launch Groundbreaking Partnership in Europe

Business Wire

“Alviere, the leading global embedded finance platform that enables any brand to deliver a full suite of financial products and services to customers, fans, and employees, today announced a groundbreaking partnership with Marqeta, the global modern card issuing platform. With Alviere’s expansion across Europe, Marqeta will provide key services to enable the delivery of advanced financial services to customers across Europe and the United Kingdom. Alviere will be operating as an Electronic Money Institution and Principal Member Card Issuer across the region.”

May 19, 2022

On the wires

Marqeta Adds Evolve Bank & Trust as Bank Partner to Expand Program Management Capabilities

“Marqeta, the global modern card issuing platform, today announced the addition of Evolve Bank & Trust as a new bank partner to offer additional solutions for customers that take advantage of Marqeta’s full program management capabilities. Evolve is a technology-focused bank that works with a diverse portfolio of fintech companies to provide a range of services, including a dedicated Open Banking division in which they offer innovative “Banking as a Service” (BaaS) payment and technology solutions. As a bank partner for Marqeta’s platform in the U.S., Evolve will support the full range of Marqeta’s program management capabilities, including BIN management, on-demand fulfillment, compliance reporting and settlement services as a customer is guided through onboarding to launch a program in-market.”

November 18, 2021

On the wires

Marqeta Teams Up With Square To Power Canadian Expansion of Square Card

Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced it has powered the launch of Square Card in Canada to help small business owners better manage their finances and cash flow. With the Marqeta modern card issuing platform, Square was able to scale its existing U.S. card program and expand it into the Canadian market, making it available for Square sellers of all types and sizes across the country.”

November 25, 2020

On the web

Visa-Backed Marqeta Targets $10 Billion Valuation in 2021 IPO

Bloomberg (paywall)

Marqeta, a payments startup backed by Goldman Sachs Group Inc. and Visa Inc., hired underwriters for a planned 2021 initial public offering, according to people with knowledge of the matter. The Oakland, California-based company is working with Goldman and JPMorgan Chase & Co. on the listing, said the people, who asked not to be identified because the information is private. The company may seek a valuation of about $10 billion, one of them said. A valuation hasn’t been finalized and, as with any IPO, could change pending investor feedback.”

July 10, 2020

On the web

Goldman Sachs-backed Payments Startup Marqeta Prepares for IPO

Reuters

“Marqeta Inc, the U.S. payment card issuing start-up whose investors include Goldman Sachs Group Inc, is seeking to hire investment banks to advise on a potential initial public offering (IPO), according to people familiar with the matter. Later this month, Marqeta is planning to interview investment banks that are seeking roles in its IPO, the sources said. The IPO could come later this year or in 2021, the sources said.”

March 11, 2020

On the wires

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