To strengthen its card programme management capabilities in Europe, the card-issuing platform Marqeta has completed its acquisition of TransactPay, a BIN Sponsorship provider that is licensed as an E-Money Institution (EMI) to issue e-money and undertake payment services in the UK and European Economic Area.
With the combined capabilities of Marqeta and TransactPay, customers will be able to take advantage of card programme management features in the UK and EU, and avoid the added complexity associated with engaging multiple partners.
Marqeta and TransactPay customers will continue to have dedicated customer and production support, as well as strategic bank, network, and regulatory relationships, supporting card program scale throughout the region. Additionally, customers in the UK and EU will also be able to expand more easily into European markets.
“In today’s evolving global landscape, from regulatory modifications to rapid economic policy changes, the ability to deliver innovative payments products and scale quickly while staying compliant with requirements across Europe is critical. With the combined capabilities of TransactPay and Marqeta, we’re helping our customers address these fundamental payment needs,” said Marcin Glogowski, SVP managing
director, Europe and UK CEO, Marqeta.
“Our business in Europe continues to grow, with total processing volume more than doubling year-over-year. This acquisition furthers this growth and demonstrates our commitment to the European and UK markets as part of our overall global strategy.”
“We are proud to continue as a trusted partner to Marqeta, combining our capabilities to help our customers accelerate growth and bring new digital payments offerings to market more efficiently,” said Aaron Carpenter, CEO of TransactPay. “We look forward to continuing to grow and scale our technology with Marqeta across Europe, delivering the innovative solutions that our customers are seeking.”
