We’re excited to announce that we’ve extended our global partnership with Mastercard to help us expand into new geographies, open access to new products and launch additional card programs together. As part of this new partnership, Mastercard will make a financial investment in Marqeta.
Mastercard and Marqeta have been working together to help fintechs, digital banks and commerce disruptors across North America and Europe bring innovative card products to market since 2014. This agreement represents a deeper global collaboration between the two of us and will start with our expansion into the Asia Pacific, with multiple new geographies to follow.
Mastercard will be helping to expedite our international expansion by streamlining its global network certification process, which governs which providers are allowed to process payments internationally through the Mastercard network. They will help optimize our partnership for global scale and drive efficiencies across our businesses to better serve the market.
“With a shared vision to provide innovative and flexible financial products and solutions to our customers, we’re thrilled to expand our partnership with Marqeta,” said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard. “We look forward to collaborating with Marqeta through this next stage of growth and enabling our joint partners to tap into capabilities that deliver differentiated experiences.”
We plan to open access to Mastercard products for our current customers and partner closely with their team on future product releases, with an emphasis on expanding and launching more card programs together. We’re also excited to participate in Mastercard’s digital enablement programs, like Digital First and Fintech Express, to help accelerate time to market for newer startups.
We look forward to further extending this partnership with Mastercard, who has already helped us bring several new card products to market, including industry-first innovations like the Square Card.
“With Square Card, we were looking to do something that hadn’t been done before – providing small businesses instant access to their sales earnings through a business debit card,” said Christopher Sweetland, Head of Industry Relations and Payments Operations at Square. “We needed the right flexible and modern card issuing platform, and the right future-focused network partnerships to make this happen. Marqeta and Mastercard were a huge part in helping us launch and scale this program so successfully, and we’re excited to see them accelerate and grow this partnership globally.”
We thank Mastercard for their continued support and collaboration and are excited for many new opportunities to come with our expanded global partnership. .