Welcome to our dedicated page for Marqeta news (Ticker: MQ), a resource for investors and traders seeking the latest updates and insights on Marqeta stock.
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.
Marqeta (NASDAQ: MQ) has become the first issuer processor in the US certified to enable Visa Flexible Credential, working with Visa and Affirm. This innovation allows a single card product to toggle between payment methods, including debit, credit, 'pay-in-four' with Buy Now, Pay Later (BNPL), and rewards points. Marqeta achieved certification in May 2024, with Affirm set to launch the service later this year.
The move responds to consumer demand for greater payment flexibility and personalization. Marqeta's 2023 State of Credit Report found that 46% of consumers cite convenience as the biggest benefit of credit cards, while 71% of US BNPL users expressed interest in accessing additional financial services through their BNPL provider.
Marqeta's 2024 State of Payments Report reveals significant shifts in US consumer payment preferences. While contactless payment adoption in the US (46%) lags behind the UK (80%) and Australia (69%), there's a growing trend towards mobile solutions. 53% of US consumers with mobile wallets feel confident leaving physical wallets at home, rising to 67% among 18-25 year olds.
The report highlights openness to non-traditional financial providers, especially among younger generations. 42% of US consumers would consider financial services from tech companies or retailers, increasing to 63% for those aged 18-34. Additionally, instant pay options are becoming crucial, with 90% of US consumers who receive immediate pay reporting easier financial planning and increased peace of mind.
Marqeta's 2024 State of Payments Report reveals UK consumers as global leaders in digital financial services adoption. Key findings include:
- 80% of UK respondents used contactless payments in the past week, compared to 46% in the US
- 50% of UK respondents feel positive about a cashless society
- 68% are confident leaving physical wallets at home
- 74% automatically add new cards to mobile wallets
The report also highlights a growing demand for faster pay, with 88% of UK respondents agreeing earlier access to wages would improve financial peace of mind. While traditional banks maintain a strong presence, 20% of UK respondents would consider switching to a digital-only bank, and 39% would consider non-financial providers for banking services.
Marqeta (NASDAQ: MQ) has announced its inaugural Future of Money Day event, scheduled for August 15, 2024, in Oakland. Sponsored by Visa, this financial literacy community event aims to showcase how payments innovation is transforming small businesses.
The event will feature educational panel sessions discussing the evolution of financial technology and its positive impact on the small business community. Key topics include:
- The future of money for small businesses
- Innovative expense management tools
- Modern technologies simplifying access to capital
- Financial wellness and accelerated wage access
Speakers from Marqeta, Visa, BILL, Black Cultural Zone CDC, Community Bank of the Bay, Credit Karma, Found, Square, and WorkWhile will participate in the discussions. The event is open to all registered Oakland businesses and will take place from 11:00 a.m. to 5:00 p.m. PT.
Marqeta (NASDAQ: MQ), a leading card issuing platform, has announced its partnership with Swiss4, a Swiss fintech company. Swiss4, known for its innovative financial services app, will now leverage Marqeta's platform to enhance its digital payment services. This partnership will enable Swiss4 to offer personalized, real-time payment solutions and high-end lifestyle management features. A recent survey highlighted a growing consumer preference for financial products from non-traditional brands, suggesting a promising market for Swiss4's offerings. Swiss4 aims to expand its services across Europe, with Marqeta as a key partner in its growth.
Marqeta (NASDAQ: MQ), a global leader in modern card issuing, will announce its second quarter 2024 financial results on August 7, 2024. The company will host a conference call and webcast at 4:30 pm ET, led by CEO Simon Khalaf and CFO Mike Milotich. A press release detailing the financial results will be issued after market close on the same day. The live webcast and a replay will be available on Marqeta's investor relations website.
Marqeta provides a platform that enables its customers to create customized payment cards through open APIs. The platform supports instant access to scalable, cloud-based payment infrastructure, facilitating the launch and management of card programs. Marqeta operates in over 40 countries and is headquartered in Oakland, California.
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.
Marqeta (NASDAQ: MQ), a leader in modern card issuing, has expanded its partnership with Lydia Solutions to launch Sumeria, a new digital banking application in Europe. Sumeria offers a remunerated current account, stock trading, savings accounts, and loans, aiming to simplify banking with an intuitive app. It plans to expand across Europe, leveraging Marqeta's platform that saw an 86% increase in total processing volume from Q1 2023 to Q1 2024. Sumeria will offer 4% interest on cash balances for the first three months and maintain the same bank account across supported countries. Lydia plans to invest over €100 million and hire 400 people in the next three years.
Marqeta (NASDAQ: MQ) has appointed Marcin Glogowski, a PayPal veteran, as SVP, Managing Director Europe and UK CEO. Glogowski will lead the company's growth in the region, which has seen an 86% increase in Total Processing Volume year-over-year. Marqeta's European expansion is driven by rising demand for embedded finance, partnering with firms like Klarna, Uber, and Western Union. The company's global platform facilitates card product launches in over 40 markets, with 70% of its top customers using Marqeta in multiple countries. Glogowski, formerly with PayPal, brings extensive regional expertise to his new role. Recent collaborations include powering Lydia's new digital bank, Sumeria, and offering a commercial debit card with UK digital bank OakNorth.
Marqeta (NASDAQ: MQ), a leading card issuing platform, announced its participation in two upcoming investor conferences. CFO Mike Milotich will join a fireside chat at the Barclays 14th Annual Emerging Payments and FinTech Forum on May 16, 2024, at 9:45 a.m. ET. Additionally, CEO Simon Khalaf will speak at the J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference on May 20, 2024, at 1:10 p.m. ET. Both sessions will be available via live webcast and replay on Marqeta’s investor relations website.
FAQ
What is the current stock price of Marqeta (MQ)?
What is the market cap of Marqeta (MQ)?
What does Marqeta do?
When was Marqeta founded?
Where is Marqeta headquartered?
What is unique about Marqeta's platform?
Who are some of Marqeta's clients?
How does Marqeta generate revenue?
What payment networks does Marqeta integrate with?
What industries benefit from Marqeta's platform?
Where can I learn more about Marqeta?
What kind of payment options does Marqeta support?
