VISA and Margeta Announce A New Global Partnership

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Visa and Marqeta, the open API payment card issuing platform, announce a multi-year, global partnership to drive further innovations in commercial and consumer payments. Additionally, Visa has made a strategic investment in Marqeta to support Marqeta's domestic and international growth objectives.

The initial efforts of the partnership will involve growing opportunities for virtual, physical and tokenised payments across a number of commercial markets and use cases that can benefit from Marqeta's developer-friendly platform.

The market for electronic payments continues to grow in commercial payables, alternative lending, disbursements, eCommerce, on-demand services and P2P payments. To enable this growth, Marqeta's platform and patent-pending Just-In-Time (JIT) Funding feature allows companies of all sizes to authorise their own card transactions, fundamentally changing how companies engage with card issuing and transaction processing. Developers on Marqeta's platform can sign up for a sandbox in under a minute and then leverage Marqeta's modern set of card controls and configurations to get a fully funded card program to market in a matter of days.

"We're excited to partner with Marqeta to collectively bring our unique assets and capabilities to more partners and clients globally," said Jim McCarthy, executive vice president, innovation and strategic partnerships, Visa. "We are always looking for partnerships and investments that allow us to evaluate innovative, new ways to support our clients' needs, and increasingly see open, developer-friendly platforms as a way to help clients move quickly in today's fast-paced environment."

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