Marqeta Announces Simon Khalaf as Chief Product Officer

Rhea-AI Summary

Marqeta (NASDAQ: MQ) has appointed Simon Khalaf as the new Chief Product Officer. Khalaf, who previously served as SVP at Twilio, will steer the strategic direction of Marqeta's product offerings. The company's recent growth includes the launch of RiskControl, a suite designed to mitigate payment fraud, and expansion of its credit card issuing capabilities with over 40 new APIs. Khalaf's experience in scaling high-growth products is expected to enhance Marqeta's capabilities in a rapidly evolving digital payments landscape.

Positive

• Appointment of Simon Khalaf as Chief Product Officer expected to drive product development.
• Launch of RiskControl suite to combat payment fraud.
• Expansion with over 40 new APIs to enhance credit card issuing capabilities.

Negative

• Risks associated with market acceptance and competition impacting product demand.
• Potential challenges due to global economic uncertainties and geopolitical tensions.

Former Twilio SVP and veteran product leader brings decades of experience building and scaling disruptive products for B2B and B2C companies to Marqeta

OAKLAND, Calif.--(BUSINESS WIRE)-- Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced the addition of Simon Khalaf as its new Chief Product Officer and key member of its executive team. Previously, Khalaf was the Senior Vice President of Twilio’s core products, including Messaging, Voice, Video and Flex, Twilio’s fully programmable Contact Center. Simon will be responsible for the strategic direction, development and delivery of Marqeta’s products to its growing customer base.

“Simon is a deeply experienced product leader with a proven track record of building and scaling high-growth products and developer-focused platforms,” said Jason Gardner, Founder and CEO at Marqeta. “Simon has demonstrated his ability to lead diverse, global teams and he will be an integral member of our leadership team as we further invest in our product capabilities and ability to power new modes of money movement at scale.”

Khalaf was part of the team that accelerated Twilio’s growth, with the products he oversaw driving significant revenue growth and establishing Twilio as a leader in the Communications Platform As a Service (CPAAS) space. Prior to Twilio, Khalaf led many of Yahoo, and later Verizon’s, key, most popular media products. Khalaf joined Yahoo through the acquisition of Flurry Inc, a leader and innovator in mobile analytics and advertising, where he was president and CEO. Prior to Flurry, Khalaf held executive leadership positions at Novell, Volera, Worldtalk, and JustOn.

Marqeta welcomes Khalaf at a time of continued growth and investment in its product development, having recently launched RiskControl, an end-to-end suite of products to combat payment fraud, and over 40 new APIs as part of an expansion of credit card issuing capabilities. Payments are becoming more digital and more embedded into consumer and business applications, and modern card issuing is enabling the simple, scalable and configurable payment services that end-users expect.

“I am thrilled to be joining the growing team at Marqeta,” said Khalaf. “When I think of Marqeta, I think of the vast amount of opportunities ahead. Businesses and consumers today have become accustomed to frictionless digital payment experiences, and they expect that experience to materialize in every financial product they use. I see Marqeta as the engine and developer-first platform behind many of the brands bringing these products to billions of consumers and businesses.”

About Marqeta (NASDAQ: MQ)

Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards. Marqeta’s modern architecture gives its customers the ability to build more configurable and flexible payment experiences, accelerating time-to-market and democratizing access to card issuing technology. Marqeta's open APIs provide instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorize and settle payment transactions. Marqeta is headquartered in Oakland, California and is certified to operate in 39 countries globally.

For more information on Marqeta please visit: www.marqeta.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to Marqeta’s investment in new products and services, new credit card issuing products and services, and the growth and demand for digital payments and modern card issuing. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: the risk that Marqeta is are unable to further attract and retain its customer bases; the risk that consumers will not perceive the benefits of Marqeta’s products and services; the risk that Marqeta's products and services do not operate as intended; the risk that Marqeta’s products and solutions will not achieve the expected market acceptance; the risk that competition could reduce expected demand for Marqeta’s products and services; the effect of uncertainties related to the global COVID-19 pandemic on U.S. and global economies and demand for Marqeta’s products and services; and the uncertainties and direct and indirect effects of the significant military action against Ukraine launched by Russia, including threats of attacks against U.S. financial institutions as retaliation against financial institutions for sanctions imposed against Russia. Detailed information about these risks and other factors that could potentially affect Marqeta’s business, financial condition and results of operations are included in the “Risk Factors” disclosed in Marqeta's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022, as such risk factors may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220714005234/en/

Media:

James Robinson

530-913-0844

jrobinson@marqeta.com

Source: Marqeta

FAQ

Who is the new Chief Product Officer at Marqeta?

Simon Khalaf is the new Chief Product Officer at Marqeta.

What new product has Marqeta launched recently?

Marqeta launched RiskControl, an end-to-end suite to combat payment fraud.

What is the significance of Simon Khalaf's appointment for Marqeta?

Khalaf's extensive experience in scaling products is expected to enhance Marqeta's offerings and growth.

What impact will Khalaf's experience at Twilio have on Marqeta?

His successful track record at Twilio may help Marqeta to innovate and grow in the digital payments sector.