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07.27.17

Visa Invests in Marqeta, Global Partnership Will Drive New ‘Payments Experiences’

Visa Inc. and Marqeta, the Pay Award-winning open API payment card issuing platform, on July 26 announced a multiyear, global partnership to “drive further innovations in commercial and consumer payments.”

What’s more, Visa has made a strategic investment in Marqeta to support the company’s domestic and international growth.

Initially, the partnership will involve expanding opportunities for virtual, physical and tokenized payments across a number of commercial markets and use cases, the companies said. Although the amount of Visa’s investment wasn’t released, Marqeta raised $25 million in new capital to expand.

Marqeta’s platform and patent-pending Just-In-Time (“JIT”) Funding feature enables companies to authorize their own card transactions. Developers on Marqeta’s platform can sign up for a sandbox in under a minute and then use card controls and configurations to get a fully funded card program to market in a matter of days, according to the announcement.

This flexibility and speed to market are two reasons the 2017 Pay Awards judges named Marqeta the Best B2B Problem Solver.

This deal follows recent Visa investments in Chain, Klarna, Square and Stripe to name a few.

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This entry was posted on Thursday, July 27th, 2017 at 9:25 am and is filed under Pay News, Top Stories.

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