Marqeta Announces Leading-edge, Client Configurable Payment Solutions

EMERYVILLE, Calif., Oct. 28, 2014 /PRNewswire/ -- Increasingly, large enterprise clients are choosing to partner with payments innovator Marqeta for processing and program management solutions. The modern, all API-based architecture, flexibility, and virtually unlimited configurability of the platform enables rapid development cycles for even the most complex payment challenges.

"At Marqeta, we've been leading the charge to innovate on the issuing side of the payments ecosystem. We collaborate closely with our clients to build the most innovative and exciting payment solutions in the market today," says founder and CEO, Jason Gardner.

Marqeta is an issuer processor platform with unique feature options, the hallmark of which is the ability to create unlimited closed loop accounts and experiences on open loop payment networks. This means a single credit, debit or prepaid card can also house all of a consumer's stored value, loyalty points, merchant promotions and more. Beyond "closed over open loop" functionality and standard high-availability processing, Marqeta can power a host of specialty applications, including advanced filtering and restrictions, dynamic authorization, and targeted spend for both business-to-business and consumer use cases.

"Marqeta provides a broad range of payment solutions services to online and offline commerce marketplaces, retail financial institutions, on demand delivery providers, malls, retailers, prepaid program managers and card issuers eager to keep up with customer demands for simplicity and ease of use. Advancing innovation on a modern platform for card and mobile products is the focus of the company." added Gardner.

The Marqeta platform was built entirely from the ground up, with no legacy infrastructure. The platform is cloud-based and available via RESTful APIs that allow for real-time configurability, experimentation and A/B testing, leading to rapid cycling of product development. Clients have the option of building new, custom card programs from the ground up, what Marqeta calls "+M Powered"; or to embed the technology into existing payment products, what Marqeta calls "+M Inside."

"Marqeta is the newest and hottest processing platform in the US. For the kind of cutting edge functionality we needed, the gap between them and the next set of companies is quite large," commented Farhan Ahmad, CEO and Founder of payments startup Bento, and former Head of Emerging Payments at Discover.

Drawing on the foundational work Marqeta led with Facebook on its social gifting program in 2012, Marqeta has signed numerous large enterprise clients to the platform. Marqeta will be featuring a number of its use cases and partnerships at upcoming payments conference Money2020, and announcing several additional partnerships in the coming months.

About Marqeta
Founded in 2010, Marqeta's mission is to power the future of money. Marqeta is a leading issuer processor and program manager for card and mobile-based payments programs. Numerous large enterprise clients depend on Marqeta for its award winning, all API-based platform. In addition to high-availability processing, the platform can power a host of specialty applications, including advanced restrictions, dynamic authorization, CPG brand loyalty, retail banking platforms, loyalty, gifting, filtering and targeted spend for both B2B and B2B2C use cases. Current clients include some of the largest e-commerce, social media, financial services and traditional retail brands in the world. Learn more at www.marqeta.com.

SOURCE Marqeta