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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.
Marqeta (NASDAQ: MQ) has announced a share repurchase program authorized by its Board of Directors for up to $100 million of its Class A common stock. This move reflects confidence in the company's business strength and growth prospects. CEO Jason Gardner emphasized that the current valuation does not represent their performance or market opportunity. With a robust balance sheet holding $1.7 billion in liquidity, Marqeta aims to invest in growth while executing this buyback. Additional details were filed in a Form 8-K on September 15, 2022.
Marqeta (NASDAQ: MQ) has partnered with Bread Financial (NYSE: BFH) to introduce the Bread Pay One-Time Use Card, enhancing in-store payment options. This card allows consumers to access flexible payment solutions like Pay in 4 and installment loans seamlessly during checkout without the need for third-party apps. A 2021 survey indicated that 47% of consumers had used a Buy Now, Pay Later (BNPL) solution, showing growing interest. Marqeta's platform supports over 600 merchants, providing key features including virtual card issuance and tokenization.
Marqeta, Inc. (NASDAQ: MQ), a modern card issuing platform, announced management participation in two significant investor conferences. The Deutsche Bank Technology Conference will take place on September 1, 2022, at 11:45 am PT, followed by the Goldman Sachs Communacopia and Technology Conference on September 15, 2022, at 9:15 am PT. Interested parties can access live webcasts and replays via Marqeta’s investor relations website. Marqeta’s platform enables flexible payment card solutions, enhancing customer access to innovative financial technologies.
Marqeta, Inc. (NASDAQ: MQ) reported impressive second-quarter results for 2022, with net revenue of $187 million, a 53% increase year-over-year, and gross profit of $78 million, up 66%. The total processing volume reached $40 billion, marking a 53% growth from Q2 2021. Despite a net loss of $45 million, a 35% decrease from the previous year, the company continues to expand its offerings, including a partnership with Western Union and enhancements to its credit platform. Guidance for Q3 indicates net revenue growth of 36-38%.
Marqeta (NASDAQ: MQ) has partnered with Transport for NSW and Mastercard Prepaid Managed Services to introduce the Opal Plus program, enhancing digital-first payment solutions for commuters in New South Wales. This initiative, part of a $AU 568 million upgrade, will streamline transport services like rideshare and e-bike rentals via a new app tested by 10,000 users. The partnership aims to expand transit options and offer innovative solutions for a seamless commuter experience.
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.
Marqeta, Inc. (NASDAQ: MQ) will host a conference call on August 10, 2022 at 4:30 PM ET to discuss its second quarter financial results. The call will be led by Jason Gardner, CEO, and Mike Milotich, CFO. A press release containing the financial results will be distributed after market close on the same day. Interested parties can access the live webcast on Marqeta's investor relations website, with a replay available afterward.
Marqeta provides a modern card issuing platform that enables customizable payment solutions and is operational in 39 countries.
Marqeta (NASDAQ: MQ) has expanded its credit platform, introducing over 40 new APIs and a user-friendly dashboard. This upgrade allows customers to swiftly launch customized credit products linked to FNBO's program management capabilities. As demand for credit cards rises, this innovation provides greater flexibility compared to traditional solutions. Notable features include a no-code dashboard, a flexible rewards engine, streamlined funding, and instant credit decisioning, catering to evolving consumer preferences.
Marqeta (NASDAQ: MQ) partners with Western Union to enhance its digital banking platform across Europe. This collaboration will integrate Marqeta’s modern card issuing technology, enabling real-time multi-currency services. Customers can access funds via physical or virtual Visa cards, facilitating online remittances. The partnership aims to deliver a customizable payment experience, driving innovation in banking services. Marqeta’s open API platform promises scalability and flexibility, aligning with Western Union’s strategic goals for market expansion.
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