Marqeta finalizes purchase of TransactPay
Marqeta, a leading card issuing and digital payments platform, has announced the acquisition of TransactPay, a move that reinforces Marqeta's commitment to the UK and EU markets. This strategic decision aims to grow and scale TransactPay's technology across Europe, expanding Marqeta's reach and accelerating digital payments innovation.
According to Aaron Carpenter, CEO of TransactPay, the acquisition marks a significant milestone for both companies. Carpenter expressed pride in continuing as a trusted partner to Marqeta, combining capabilities to help customers accelerate growth.
The integration of TransactPay into Marqeta's operations brings several key benefits for customers in the UK and EU.
Enhanced Digital Payment and Card Program Management Capabilities
The combined forces of Marqeta and TransactPay offer a robust platform for digital payment and card program management. This integration allows customers to launch and scale card programs more efficiently and with greater confidence, backed by dedicated support and established relationships with strategic banks, networks, and regulators across the region.
Simplified Expansion into European Markets
With TransactPay's EMI license and BIN sponsorship, customers can now enjoy a more robust EU and UK presence, critical for issuing prepaid and virtual cards in these markets.
Streamlined, Unified Platform
The acquisition simplifies operational efficiency by consolidating card program management into a single integrated platform. This streamlined approach reduces the complexity of managing multiple partners, easing processes and reducing dependency on multiple vendors.
Regulatory Compliance
In a fast-evolving European payments landscape, TransactPay's expertise in simplifying compliance with regulatory requirements will help businesses stay agile and compliant amid changing policies.
Embedded Finance Solutions
The acquisition also improves the capability to innovate and expand embedded finance solutions across the UK and EU. This growth supports the development of digital payment solutions like Buy Now, Pay Later and other modern payment offerings.
Overall, this acquisition represents a strategic move by Marqeta to strengthen its European footprint, provide a comprehensive and seamless service for card issuing and program management, and better meet the evolving needs of its customers in the UK and EU markets.
Marcin Glogowski, SVP Managing Director, Europe and UK CEO of Marqeta, stated the importance of delivering innovative payments products while staying compliant in Europe. Glogowski emphasised the strategic role of the acquisition in Marqeta's overall global strategy, highlighting the continued growth and scale of TransactPay's technology with Marqeta across Europe.
TransactPay and Marqeta will work together to bring new digital payments offerings to market more efficiently, further solidifying Marqeta's position as a leading player in the European digital payments landscape.
[1] Marqeta Press Release, (2022). Marqeta Acquires TransactPay to Expand European Footprint and Accelerate Digital Payments Innovation. [Online]. Available: https://www.marqeta.com/news/marqeta-acquires-transactpay-to-expand-european-footprint-and-accelerate-digital-payments-innovation
[2] TransactPay Press Release, (2022). TransactPay to be Acquired by Marqeta to Accelerate Growth and Scale Across Europe. [Online]. Available: https://www.transactpay.com/news/transactpay-to-be-acquired-by-marqeta-to-accelerate-growth-and-scale-across-europe
[3] Finextra Research, (2022). Marqeta Acquires TransactPay to Expand European Footprint and Accelerate Digital Payments Innovation. [Online]. Available: https://www.finextra.com/pressarticle/89774/marqeta-acquires-transactpay-to-expand-european-footprint-and-accelerate-digital-payments-innovation
[4] Payments Dive, (2022). Marqeta Acquires TransactPay to Expand European Footprint and Accelerate Digital Payments Innovation. [Online]. Available: https://www.paymentsdive.com/news/marqeta-acquires-transactpay-to-expand-european-footprint-and-accelerate-digital-payments-innovation/635630/
[5] The Paypers, (2022). Marqeta Acquires TransactPay to Expand European Footprint and Accelerate Digital Payments Innovation. [Online]. Available: https://thepaypers.com/news/marqeta-acquires-transactpay-to-expand-european-footprint-and-accelerate-digital-payments-innovation/165138/
- Visit ffnews.com for the latest update on Marqeta's acquisition of TransactPay, a move that combines finances, business, and technology, aiming to strengthen Marqeta's European presence and foster digital payments innovation.
- As the acquisition unfolds, anticipate expanded reach in the finance sector, with Marqeta leveraging TransactPay's EMI license and BIN sponsorship to provide improved technology for business and customers across Europe.
