Marqeta Expands European Footprint with Opening of New Office in Poland

Rhea-AI Summary

Marqeta, a global card issuing platform, has opened a new office in Warsaw, Poland. This expansion aims to support its card program management services and enhance Marqeta's presence in the European Union. The Warsaw office will serve as a strategic hub, leveraging Poland's central location and developed talent pool to facilitate growth across Eastern and Western Europe. Marqeta's offerings in Europe will include comprehensive card program management, risk and compliance services, dispute management, and more. The company has already onboarded employees in Warsaw and plans further hiring to support its innovation and growth strategies.

Positive

• Opening a new office in Warsaw, Poland, expands Marqeta's European footprint.
• Access to a central location in Europe facilitates entry into both Eastern and Western European markets.
• Leveraging Poland's well-developed talent pool for comprehensive card program management.
• Providing end-to-end strategic guidance and hands-on support for European customers.
• Established strategic relationships with banks, networks, and regulatory bodies simplify scalable card programs.
• Comprehensive service offerings including risk and compliance, dispute management, card fulfillment, and support.
• Commitment to hiring local talent supports a dynamic and innovative work environment.

Negative

• The PR does not provide concrete financial data or projected revenue impacts.
• No specific timelines mentioned for key milestones or growth targets.
• Potential operational challenges related to managing a new international office.
• Initial costs associated with setting up the new office and hiring local talent could impact short-term profitability.

Marqeta’s office in Warsaw will support the expansion of its card program management services, bringing its full range of platform offerings and expertise to the European market

AMSTERDAM--(BUSINESS WIRE)-- Marqeta, the global modern card issuing platform enabling some of the world’s most innovative embedded finance solutions, today announced its new office in Warsaw, Poland to support its long term business and growth strategies. By setting up operations in Poland, Marqeta gains direct access to the European Union, positioning it well for growth and enhanced service offerings across borders. Poland’s central location within Europe enables Marqeta to facilitate access to key Eastern and Western European markets.

Marqeta opened its Warsaw office to accelerate the expansion of its card program management capabilities into Europe. Marqeta has been processing in Europe since 2019 and plans to leverage Poland’s well-developed talent pool to bring its comprehensive card program management services to the European market. Marqeta will provide end to end strategic guidance and hands on support to its European customers, helping to ensure card program success while allowing its customers more time to focus on business growth and profitability. With its dedicated customer and production support, and established strategic bank, network and regulatory relationships, Marqeta will simplify its customers’ ability to deliver scalable card programs to the European market.

“Poland’s position as a leader in Central Europe, coupled with its strong education system and rich developer community, make it an ideal place for Marqeta to establish roots,” said Simon Khalaf, Chief Executive Officer at Marqeta. “Establishing ourselves in Warsaw further solidifies our commitment to enabling our customers’ global growth, and emphasizes our ability to provide the robust solutions, security and assurance required for their global success.”

The expansion of Marqeta’s card program management capabilities enables its customers to design, launch and grow card programs confidently. Companies in Europe or those looking to expand into the region will have access to Marqeta’s full suite of program management capabilities including leading risk and compliance services, dispute management, card fulfillment, cardholder web components, and cardholder support options.

Marqeta has already successfully onboarded employees in its Warsaw office, with plans to continue hiring in the region throughout the year. Marqeta is committed to hiring local talent and fostering a dynamic work environment conducive to its innovation and growth strategies.

About Marqeta (NASDAQ: MQ)

Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards and embedded finance offerings. Marqeta’s platform, powered by open APIs, gives its customers the ability to build more configurable and flexible payment experiences, accelerating product development and democratizing access to card issuing technology. Its modern architecture provides 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 transactions. Marqeta is headquartered in Oakland, California and is certified to operate in more than 40 countries globally. For more information, visit www.marqeta.com, Twitter and LinkedIn.

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 changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; and those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K, as 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/20240604769865/en/

James Robinson

530-913-0844

jrobinson@marqeta.com

Source: Marqeta

FAQ

What is Marqeta's new expansion in Europe?

Marqeta has opened a new office in Warsaw, Poland, to expand its card program management services in Europe.

How will Marqeta's new office in Poland benefit its European operations?

The Warsaw office provides direct access to the European Union, facilitating growth and enhanced service offerings across Eastern and Western Europe.

What services will Marqeta offer through its Warsaw office?

Marqeta will offer comprehensive card program management, risk and compliance services, dispute management, card fulfillment, and cardholder support.

Why did Marqeta choose Poland for its new office?

Poland's central location in Europe, strong education system, and rich developer community make it an ideal place for Marqeta to establish roots.

What are Marqeta's plans for hiring in its new Warsaw office?

Marqeta has already onboarded employees in Warsaw and plans to continue hiring local talent throughout the year to support its innovation and growth strategies.