Marqeta Expands European Presence with TransactPay Acquisition

What's Happening?

Marqeta, a card-issuing platform, has acquired TransactPay, a BIN Sponsorship provider licensed as an E-Money Institution in the UK and European Economic Area. This acquisition aims to enhance Marqeta's card program management capabilities across Europe, allowing customers to manage card programs without the complexity of multiple partnerships. The integration of TransactPay's capabilities will provide dedicated support and strategic relationships, facilitating easier expansion into European markets. Marcin Glogowski, SVP managing director, Europe and UK CEO of Marqeta, highlighted the importance of delivering innovative payment solutions while maintaining compliance with European regulations.

Why It's Important?

The acquisition of TransactPay by Marqeta is a strategic move to strengthen its foothold in the European payments market. This expansion is significant as it allows Marqeta to offer more comprehensive services to its customers, enhancing their ability to scale and innovate in a rapidly changing regulatory environment. The move is expected to drive growth in Marqeta's European operations, which have already seen a doubling of processing volume year-over-year. This acquisition aligns with Marqeta's global strategy to expand its presence and capabilities in key markets.