Marqeta, Inc. - MQ STOCK NEWS

Marqeta's 2022 State of Consumer Money Movement report reveals a significant shift in payment preferences, highlighting that 71% of US consumers used mobile wallets in the past year, up from 64% in 2020. The report shows 38% of US consumers own cryptocurrency, with a strong interest in crypto debit cards. The survey, conducted with 4,076 consumers across three continents, indicates a clear decline in cash usage, with 56% feeling comfortable leaving their wallets at home for payments. These trends point to entrenched digital payment behaviors post-pandemic.

Marqeta (NASDAQ: MQ) released its 2022 State of Consumer Money Movement report, revealing rising confidence in digital payments. The survey of 4,000 consumers showed that 61% feel secure using mobile wallets, with UK Gen Z confidence at 77%. Contactless payment usage reached 96% among UK consumers, leading 42% to forget their PIN. Almost half of UK respondents rarely use banks, with 63% believing cash will disappear. Additionally, 26% of UK consumers own crypto, highlighting a shift towards digital and mobile payment solutions.

Recent survey data from Marqeta (NASDAQ: MQ) reveals that 83% of Australians have used a mobile wallet in the past year, outperforming the US and UK. The report indicates that 69% of respondents feel comfortable leaving their physical wallets at home, highlighting a significant shift in payment preferences. Cash utilization is declining, with 43% of Australians reporting less cash use compared to a year ago. Overall, consumer adoption of digital banking tools is on the rise, suggesting a post-pandemic preference for mobile-first payment solutions.

Alviere partners with Marqeta to support its expansion in Europe, enabling clients to issue branded cards across the EEA and the UK. This strategic collaboration taps into the burgeoning embedded finance market projected to reach $7.2 trillion by 2030. Alviere, having raised $70 million recently, aims to enhance customer relationships and drive revenue through innovative financial solutions. The partnership signifies a potential shift in consumer engagement strategies for brands in Europe, leveraging Marqeta's modern card issuing platform.

Marqeta (NASDAQ: MQ) has partnered with Evolve Bank & Trust to enhance its offerings in Banking-as-a-Service (BaaS). This collaboration allows Marqeta to provide a wider range of program management capabilities, including BIN management and compliance reporting. Evolve's technology focus aligns well with Marqeta's mission of supporting fintech innovation. The partnership aims to accelerate customer onboarding and streamline operations, ultimately enhancing service quality and flexibility for Marqeta's clients.

Marqeta, Inc. (NASDAQ: MQ) reported a strong performance in Q1 2022, with net revenue reaching $166 million, up 54% year-over-year. Total processing volume (TPV) grew 53% to $37 billion, while gross profit increased 50% to $75 million, resulting in a gross margin of 45%. However, the company recorded a net loss of $61 million, a 372% increase compared to the previous year. The guidance for Q2 2022 suggests a net revenue growth of 46 - 48% and an adjusted EBITDA margin of negative 10-11%.

Marqeta, Inc. (NASDAQ: MQ), a leading card issuing platform, announced participation in three upcoming investor conferences. The events include the MoffettNathanson 4th Annual Payments Processors and IT Services Summit on May 12, 2022, Barclays Emerging Payments and FinTech Forum on May 17, 2022, and the JP Morgan Global Technology, Media and Communications Conference on May 25, 2022. Investors can access live webcasts and replays on Marqeta's investor relations site. The company, based in Oakland, California, operates in 39 countries, offering a flexible payment card issuing platform powered by open APIs.

Marqeta (NASDAQ: MQ) launched RiskControl, a risk management suite for its card issuing platform. This solution addresses fraud and compliance across the cardholder lifecycle. Its key features include Real-Time Decisioning for transaction control, enhancements in Know Your Customer (KYC), and improved Disputes management. The solution aims to mitigate the rising risk of fraud amid increasing digital payment trends, enabling card issuers to streamline operations without compromising growth.

The second annual Gig Payments Report from Branch and Marqeta reveals that 35% of gig workers left full-time jobs for gig opportunities. Over 85% of respondents have increased gig work, with 58% citing inflation as a driving factor. Key motivators include higher pay (67%), scheduling flexibility (60%), and faster payouts (59%). The report emphasizes the need for quicker access to earnings, as 72% rated housing affordability as a top financial concern. The gig worker profile is shifting, with food delivery (50%) being the leading sector.