Marqeta acquires TransactPay to boost UK & European card services

By Gloria Methri

Marqeta, a global platform for modern card issuing, has agreed to acquire TransactPay, a UK-licensed Electronic Money Institution (EMI) that provides BIN Sponsorship services. This acquisition will significantly enhance Marqeta’s ability to manage card programs in the UK and Europe.

Established in 2012, TransactPay operates in 25 countries, supports 16 currencies, and is a principal member of Mastercard and Visa. Its EMI license allows it to issue e-money and provide payment services, including digital wallets and prepaid cards, within the UK and European Economic Area.

Marcin Glogowski, Marqeta’s SVP Managing Director for Europe and UK CEO, commented that integrating TransactPay’s expertise will “accelerate our offerings for customers globally,” enabling them to innovate while maintaining compliance.

“We’ve built our business on being a trusted partner to the leading payment providers in the world, including Marqeta,” said Aaron Carpenter, CEO of TransactPay. “Becoming a part of the Marqeta Group will enable us to scale our existing BIN Sponsorship and digital wallet business even further whilst enabling their industry-leading customers to offer card products with digital payment offerings without patching together multiple partners.”

Marqeta customers will now be able to take advantage of full card program management capabilities in the UK and EU, and avoid the added complexity associated with engaging multiple partners. The integrated offering will include dedicated customer and production support and strategic bank, network and regulatory relationships, ensuring card programs can scale throughout the region.

Customers can partner with Marqeta to assist with navigating the local regulatory environment. Certified to operate in more than 40 countries, Marqeta’s platform simplifies the process of launching in new geographic markets, enabling customers to get to market faster than starting from scratch in each market.