Asia’s booming economy is largely supported by a payment ecosystem built on hyperlocal payment technology providers. As the global economy grows and brands need to scale beyond regions and borders, digital payment platforms are becoming essential infrastructure that brings both opportunities and challenges for companies.
A new platform collaboration from Marqeta and Visa has created a powerful new offering for customers looking to launch card programs across APAC, or expand into the region. Our partnership will offer easier interoperability and global scale, making it possible for companies to launch card programs faster across 10 markets in the region: Australia, Hong Kong, Japan, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand, and Vietnam. This new partnership creates an issuing platform in Asia-Pacific significantly larger than any other current alternative.
Helping innovators scale faster in a rapidly growing economy
The Asia Pacific region has a burgeoning payments ecosystem populated by companies ranging in size from venture-funded start-ups to big tech platforms. Visa research tracks 90 active mobile wallet programs across the region, more than 150 active or pending digital banking licenses, and several industry leading alternative credit/installment programs. Digital first card processors, like Marqeta, power new mobile or application based payment experiences and extend the reach and/or utility of Visa products into new segments and new consumer experiences.
Working with Marqeta and Visa, partners can open a laptop to access Marqeta’s existing sand-box and publicly available APIs. Brands that enter into a commercial partnership with Visa can create new issuing programs and can rapidly build and test consumer payment applications in multiple Asia Pacific markets on the Marqeta platform.
Working with Visa and Marqeta, innovators will be able to:
● Rapidly build new payment applications: Developers will be able to begin testing products in Marqeta’s live sandbox.
● Test and learn UI/UX: The solution is intended to allow partners to work on the user interface and experience to trial all kinds of creative payment solutions, while also working with the Marqeta issuing API and developer sandbox to set up payment processing.
● Simplify and accelerate international expansion: The solution is designed to enable partners to go live across multiple Asia Pacific markets quickly, prioritizing speed, streamlining the burden of launching and scaling new card programs.
Two industry leaders advancing interoperability in Asia-Pacific
Our partnership with Visa offers APAC customers a powerful solution that combines Marqeta’s open API issuer processor platform and Visa’s global payment network and financial expertise. The partnership simplifies the steps needed to launch a program on Visa’s network by eliminating many of the hurdles that companies face.
“Bringing Marqeta and Visa technology together like this in Asia-Pacific is creating an entirely new product proposition, at a scale that hasn’t been done before. The possibilities are massive, helping digital payments disruptors scale faster in the world’s most rapidly evolving ecosystem,” said Jason Gardner, founder and CEO at Marqeta. “We’re excited to be working with Visa in Asia-Pacific on a forward thinking application of our technology, and see this as a major step in expanding Marqeta’s global footprint as well as helping our existing customer base grow into new regions.”
“Global brands and fintechs interested in expanding into Asia have a way to quickly test and learn in new markets. If you’re a startup based in Asia, you have access to world-class developer tools,” said Matt Dill, Visa’s global head of strategic partnerships and venture.
If you’d like to learn more about our APAC multinational card issuing platform, or you are interested in becoming a beta customer, we are eager to help.