Marqeta Strengthens Its UK & EU Footprint

Hey Payments Fanatic!

Marqeta has acquired TransactPay in a deal set to enhance its card program management capabilities across the U.K. and Europe, aiming to “further accelerate our offerings for customers globally,” said Marcin Glogowski, Marqeta’s SVP Managing Director for Europe and UK CEO.

By integrating TransactPay’s BIN sponsorship and e-money licensing across the U.K. and EEA, Marqeta gains the ability to issue prepaid and virtual cards more seamlessly. With operations spanning 25 countries and support for 16 currencies, TransactPay’s infrastructure allows Marqeta customers to manage card programs without the added complexity of multiple partners.

In leadership changes, Marqeta named Mike Milotich as interim CEO following the departure of Simon Khalaf, who will remain as CFO.

Meanwhile, the company reported strong Q4 results, with total processing volume (TPV) reaching $80 billion, up 29% year over year. Net revenue rose 14% to $136 million, and shares climbed 11% in after-hours trading.

If you’re interested in reading a bit about what’s been happening in Payments, keep scrolling!

Cheers,

Marcel

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