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Marqeta, Inc. (symbol: MQ) is at the forefront of payment technology, providing a cutting-edge platform for issuing digital, physical, and tokenized payment options. Founded in 2010 and headquartered in Oakland, California, Marqeta has re-engineered how payment cards and mobile authorization products are developed and deployed. The company’s fully documented, open API issuer processor platform offers unparalleled control over how transactions are authorized, enabling companies to build, issue, and deploy innovative payment solutions.
The Marqeta platform is designed from the ground up without any legacy infrastructure, ensuring it is both modern and flexible. It integrates seamlessly with major payment networks like Visa, MasterCard, and Discover, making it easier for businesses to facilitate payments, reward customers, and improve operational efficiency. Clients include top-tier brands in financial services, e-commerce, retail, and social media, such as DoorDash, Klarna, and Block.
Engineered in California, the Marqeta platform supports a wide range of use cases, from on-demand delivery services to point-of-sale financing. The company generates revenue primarily through processing and ATM fees related to the cards issued on its platform.
Marqeta’s commitment to innovation is evident in its recent achievements and ongoing projects. Continuous enhancements to its API capabilities allow for rapid deployment of new products, maintaining Marqeta’s competitive edge in the industry. For more information, visit www.marqeta.com.
On October 26, 2021, Amount and Marqeta introduced a groundbreaking partnership aimed at facilitating banks' entry into the Buy Now, Pay Later (BNPL) market. This collaboration addresses digital tool gaps, enabling banks to launch BNPL offerings and virtual cards in a matter of months. With the BNPL market projected to see a 274% surge by 2026, this initiative positions banks to capture significant untapped revenue. The fully integrated solutions promise to enhance customer acquisition, loyalty, and overall revenue streams for financial institutions aiming to compete in the evolving digital landscape.
Marqeta (NASDAQ: MQ) has partnered with Branch and Uber Freight to enhance payment solutions for carriers in the logistics industry. This collaboration allows Uber Freight to provide payments to carriers within two hours of approved delivery, drastically reducing the standard wait time by 99.7%. The feature is designed to support smaller carriers who face cash flow challenges. Additionally, Branch’s digital wallet offers financial services including a no-fee checking account, providing a means for better cash management. This partnership aims to modernize the trucking payment experience and improve operational efficiencies.
Marqeta, a global card issuing platform, released an industry study titled The European Payments Landscape in 2030, in collaboration with Consult Hyperion. This study explores future payment innovations and ethical considerations, highlighting trends like AI-driven wallets and microchip implants. Key findings from a consumer survey reveal significant consumer interest in futuristic payment methods, with 51% open to microchip implants. However, concerns about disappearing cash and exclusion for certain demographics also arise. The study underscores the need for regulators to adapt to the rapid pace of innovation in the payments sector.
Marqeta (NASDAQ: MQ) announced it is powering cryptocurrency spending and rewards products for major players like Coinbase, Fold, Shakepay, and Bakkt. The increase in cryptocurrency popularity, with 14% of US citizens reportedly owning crypto, has fueled demand for modern payment solutions. Marqeta’s innovative platform enables cryptocurrency transactions at point-of-sale and offers customizable card solutions. Key features include Just-in-Time Funding, real-time notifications, and instant card issuance, enhancing the digital banking experience.
Marqeta, Inc. (NASDAQ: MQ) will host a conference call and webcast on November 10, 2021, at 4:30 pm ET to discuss its third quarter 2021 financial results. The call will feature CEO Jason Gardner and CFO Tripp Faix. A press release with the financial results will be available after market close on the same day. Investors can access the live webcast and subsequent replay on Marqeta's investor relations website.
Marqeta empowers businesses with its modern card issuing platform, certified in 36 countries, providing flexible payment card solutions.
Marqeta (NASDAQ: MQ) announced a partnership with Figure to launch Figure Pay, an all-in-one digital money app, currently available in 26 states. This new product leverages Provenance Blockchain for faster payments, offering a fee-free deposit account, seamless money transfers, rewards, and access to 55,000 ATMs. Additionally, it features Buy Now, Pay Later functionality, aiming to enhance financial inclusion for underbanked users. Marqeta's revenue from Buy Now, Pay Later services surged by 350% in Q2 2021, reflecting strong demand for flexible payment solutions.
Marqeta released a report revealing that 70% of UK consumers prefer Buy Now Pay Later (BNPL) over credit cards, primarily due to affordability. The survey indicates a significant shift in consumer preferences, with 54% believing BNPL will replace credit cards. Despite this, many users express concern about accumulating debt, as 53% find it easier to fall behind with BNPL. The report suggests a demand for innovative payment solutions as the pandemic reshapes consumer behavior.
Marqeta, listed on NASDAQ as MQ, has announced a successful year-long partnership with Zip Co. in Australia, enhancing their Buy Now Pay Later (BNPL) services. Zip has seen a 176% increase in transactional volumes, reaching AUD 5.8 billion, while Marqeta reported a 350% year-over-year increase in BNPL net revenue for Q2 2021. The collaboration enables Zip to offer customers a line of credit with a streamlined user experience through the Zip Pay account, now serving over 2.8 million users in Australia and 7.3 million globally.
Marqeta (NASDAQ: MQ) has launched a new initiative to issue physical cards made from 43% recycled plastic, in partnership with Perfect Plastic Printing. The grocery delivery service Cornershop, recently acquired by Uber, will be the first to use these cards for new delivery shoppers. Additionally, Marqeta aims to offset its plastic footprint by partnering with rePurpose Global to remove 380,000 pounds of plastic from the environment in 2021, equivalent to the production of 34 million cards. This initiative marks a significant step towards Marqeta's goal of plastic neutrality.
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