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OAKLAND, Calif. & GIBRALTAR - Marqeta (NASDAQ: NASDAQ:MQ), the card issuing platform, announced its acquisition of TransactPay, a European E-Money Institution and BIN Sponsor. This strategic move is set to enhance Marqeta’s presence in the UK and EU by bolstering its digital payments capabilities, allowing customers to more easily expand into these markets.
TransactPay, licensed to issue e-money and provide payment services across the UK and European Economic Area, is currently operational in 25 countries and supports 16 currencies. It is also a principal member of Mastercard (NYSE:MA) and Visa (NYSE:V). Marqeta’s acquisition of TransactPay aims to simplify card program management for its customers in the region, offering an integrated service that reduces the complexity of working with multiple partners. This expansion comes as Marqeta faces revenue headwinds, with InvestingPro reporting a 35.62% year-over-year revenue decline in the last twelve months.
Marcin Glogowski, SVP Managing Director, Europe and UK CEO of Marqeta, emphasized the growth opportunities this acquisition presents, stating that it will accelerate the company’s global offerings and support customers’ innovation and compliance needs. Aaron Carpenter, CEO of TransactPay, also highlighted the benefits of joining Marqeta, such as scaling their BIN Sponsorship and digital wallet business while enhancing card product offerings for Marqeta’s customers.
The acquisition promises Marqeta’s customers full card program management capabilities in the UK and EU, including dedicated customer support and assistance with local regulatory environments. The company’s platform, certified to operate in over 40 countries, simplifies the launch process in new markets, enabling faster market entry.
The transaction is subject to customary closing conditions, including regulatory approvals. Wilson Sonsini Goodrich & Rosati, P.C. served as legal counsel to Marqeta for this agreement.
Marqeta, which processed nearly $300 billion in annual payments volume in 2024, continues to expand its global footprint, offering businesses the ability to build and embed financial services into their branded experiences.
The information for this article is based on a press release statement. While Marqeta’s stock has declined nearly 30% over the past six months, InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of over 1,400 US stocks.
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