Marqeta Appoints New Leader to Manage Embedded Finance Boom

The company is keen to continue expanding into new markets, supporting their customers with card issuing and embedded finance capabilities to grow revenue. Its global platform allows customers to launch card products in more than 40 markets through a single integration, reducing time and effort.

Its digital platform is powered by open APIs and offers customers the ability to build more flexible payment experiences. Some of the benefits this can afford include accelerating product development and democratising access to card issuing technology.

Marqeta’s modern architecture provides instant access to a cloud-based payment infrastructure, enabling customers to launch and manage their own card programs, issue cards and settle transactions. 

The company will also issue tokenised, virtual and physical cards to provide detailed real-time views of accounts and transactions for customers of the new digital bank, Sumeria, which will offer a highly customised experience through an accessible app.

Sumeria is managed by Lydia Solutions, which Marqeta partnered with in 2019 to power its peer-to-peer payments app. Now, Sumeria aims to make banking more simple with its easily accessible app – with Marqeta’s platform enabling dynamic capabilities to ensure security and compliance, offering customers real-time views into their accounts and transactions.

Likewise, Trade Republic is using Marqeta to power an innovative consumer debit card that combines spending and savings for its four million customers. Marqeta first signed Trade Republic in 2022.

******

Check out the latest edition of FinTech Magazine and sign up to our global conference series – FinTech LIVE 2024. 

******

FinTech Magazine is a BizClik brand.