AMSTERDAM–(BUSINESS WIRE)–Marqeta (NASDAQ: MQ), the modern global card issuance platform, has partnered with Western Union, the global leader in cross-border, cross-currency money movement and payments, to integrate its solution into the new generation of Real- multi-currency digital wallet and digital banking platform in Europe. Marqeta’s modern card issuance platform will enable Western Union’s full money transfer service to be offered online, with funds delivered to a physical or virtual Visa card. This will allow Western Union to extend its relationship with its customers, creating a new banking experience by connecting cards to Western Union’s new digital payment platform.
Marqeta’s open API card issuance platform will enable Western Union to manage the complex payment card issuance and processing workflow and provide Western Union with real-time information on card activity. customer cards. By integrating with Marqeta, Western Union will be able to offer a seamless payment experience to its digital banking customers that can be easily replicated and personalized in international markets. This flexibility also allows Western Union to expand its functionality as needed, opening the door to providing a wide range of digital banking services for Western Union customers in the future.
“Given our global footprint and strong reputation, any new service must be extremely robust, resilient, scalable and secure. Getting it right and working with the best vendors is key and it was clear that Marqeta was a great choice for card issuance,” said Tom Mazzaferro, Chief Data and Innovation Officer at Western Union. “The Marqeta platform offers all the functionality needed to support the goals of our new digital banking program, as well as the flexibility to easily enter new markets and design new features that meet our customers’ needs.”
Western Union connects millions of consumers to their families and loved ones, and to the global economy, in more than 200 countries and territories and in more than 130 currencies. The company offers a truly diverse omnichannel offering, bridging the digital and physical worlds with a global retail agent network of hundreds of thousands of locations, combined with one of the world’s largest cross-border digital person-to-person networks. person, reaching billions of bank accounts, as well as millions of digital wallets and cards.
“Western Union have been a pioneer in the payments space, helping to bring people together wherever they are with their international money transfer services. We are delighted to be working together on this exciting new venture for their European business. and to drive such a respected international brand forward,” said Anna Porra, Director of European Strategy at Marqeta Europe. “This extremely complex project was an exciting challenge, so we are very proud of the product we have all built. At a time when customer expectations are rising, building a data-driven solution that leverages modern card issuance technology, along with the expertise of a global partner ecosystem, is essential to help gain a share of the wallet.”
Marqeta’s modern card issuance platform enables its customers to create personalized and innovative payment cards. Marqeta’s platform, powered by open APIs, empowers its customers to create more configurable and flexible payment experiences, accelerating product development and democratizing access to card issuance technology. Its modern architecture provides instant access to a highly scalable, cloud-based payment infrastructure that allows customers to launch and manage their own card programs, issue cards, and authorize and settle transactions. Marqeta is headquartered in Oakland, California, and operates in 39 countries around the world. For more information visit www.marqeta.com, Twitter and LinkedIn.
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied by this press release include, but are not limit, quotes and statements relating to the partnership between Marqeta and Western Union; capabilities and adoption of joint Marqeta and Western Union products and services; and business outlook for Marqueta and Western Union. Actual results may differ materially from the expectations contained in such statements due to risks and uncertainties, including, but not limited to, the following: risks to the continued partnership between Marqeta and Western Union; the effect of uncertainties related to the global COVID-19 pandemic on the U.S. and global economies and demand for Marqeta’s and Western Union’s joint and respective services and products; the uncertainties and the direct and indirect effects of the major military action against Ukraine launched by Russia, including the threats of attacks against American and European financial institutions in retaliation against the financial institutions for the sanctions imposed against Russia ; the risk that Marqeta and Western Union may not be able to attract and retain their respective customers; the risk that consumers may not see the benefits of Marqeta’s and Western Union’s joint and respective products and services; the risk that Marqeta’s and Western Union’s joint and respective products and services may not perform as intended; the risk that Marqeta’s and Western Union’s joint and respective products and solutions will not achieve expected market acceptance; and the risk that competition will reduce expected demand for Marqeta’s and Western Union’s joint and respective services. Detailed information about these risks and other factors that could affect Marqeta’s business, financial condition and results of operations are included in “Risk Factors” disclosed in Marqeta’s Quarterly Report on Form 10-Q. for the quarterly period ended March 31, 2022, as such risk factors may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqueta’s website at http://investors.marqeta.com. The forward-looking statements contained in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update forward-looking statements, except as required by law..