Visa invests in card issuing platform Marqeta
Written by Anthony Strzalek
Visa has partnered with open API payment card issuing platform, Marqeta, in an effort to drive further innovations in commercial and consumer payments.
In addition, Visa has made a strategic investment in Marqeta in order to support the latter’s domestic and international growth.
The initial efforts of the partnership will involve growing opportunities for virtual, physical and tokenised payments across a number of commercial markets and use cases that can benefit from Marqeta’s platform.
Jim McCarthy, executive vice president of innovation and strategic partnerships at Visa, said: “We're excited to partner with Marqeta to collectively bring our unique assets and capabilities to more partners and clients globally.
“We are always looking for partnerships and investments that allow us to evaluate innovative, new ways to support our clients’ needs, and increasingly see open, developer-friendly platforms as a way to help clients move quickly in today's fast-paced environment.”
Marqeta’s platform and allows companies of all sizes to authorise their own card transactions.
Marqeta CEO, Jason Gardner, added: “The Marqeta core processing platform is architected from the ground up to be the most modern, flexible and developer friendly platform anywhere in the market today. We’re democratising access to innovation for new issuers and FinTech players, and we’re proud to partner with Visa and its broader ecosystem.”