Marqeta offers TransactPay

Start-up Marqeta, a specialist in the issuance of white-label payment cards, has just announced the signing of an acquisition agreement with TransactPay, a leading provider of payment solutions operating in the UK and Europe. This strategic operation represents a means for Marqeta to strengthen its international positions.

FACTS

• TransactPay offers a wide range of payments, including BIN (Bank Identification Number) services, virtual accounts management and electronic money (e-money) and cards in 25 countries and 16 currencies (as a member of MasterCard and Visa, i.e. licensed to networks to issue cards and access their infrastructure without necessarily going through a bank intermediary).

• Marqeta, as a benchmark card issuing platform, has just formalized its intention to buy this authorised and regulated company as an electronic money institution (EMI).

• This acquisition aims to strengthen the management capabilities of Marqeta's card programs in the UK and Europe. Thanks to the integration of TransactPay, Marqeta will be able to offer its customers a comprehensive solution, including dedicated support and strategic relations with banks, networks and regulators, thus facilitating the expansion of card programs in the region.

• This acquisition remains subject to regulatory approval at this time.

ISSUES

• Strengthening an association: Marqeta and TransactPay already had a partnership relationship, as Aaron Carpenter, CEO of TransactPay, said on the occasion of the announcement of this takeover.

• Ensuring its internationalization : This acquisition of TransactPay by Marqeta will enable Marqeta's customers to benefit from a simplified process of launching new geographic markets. They will indeed be able to develop more quickly, allowing Marqeta to impose itself as a broader reference of the issue of cards.

• Strengthening in Europe : For Marqeta, this acquisition is also and above all a strategic step to strengthen its presence and capacity in Europe, offering its customers integrated payment solutions in accordance with local regulations. TransactPay needs to help more widely Marqeta strengthen its capacity to manage card programs in Europe.

PERSPECTIVE

• Marqeta was created in 2010 in California and was modelled on the map when the majority of its competitors relied on mobile. First Specialized in the customer reward market, it reported an exponential growth in the BtoBtoC market in 2020 in imposing as the issuer of payment cards for companies such as Square, Uber Technologies or the Instacart delivery application.

• She then received the Investment Mastercard, before preparing his Introduction in 2021. It has since signed strategic partnerships with Klarna, Scalapay or Visa and Affirm to be a benchmark of its international market. The acquisition of TransactPay must therefore help it today to consolidate this position.

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