Marqeta partners with Google Pay to power the new Google Pay Balance Card

By Pavithra R

Marqeta, the global payment processing and cash issuing platform provider, has announced that its modern card issuing platform will power the new virtual Google Pay balance card.

The virtual Google Pay balance card, powered by Marqeta, allows users to spend their Google Pay balance through a virtual card tokenized into a mobile wallet and used at accepting merchants. Previously, Google Pay balance users could use their balance for person-to-person (P2P) payments, purchases on eligible Google-owned properties, or they could transfer their funds to their bank account. With the new virtual card, Google Pay users can now make purchases directly from their Google Pay balance.

“The power of modern card issuing is being able to embed a card into an app like Google Pay and create completely new vectors of commerce that change how consumers relate to their money. Marqeta’s modern card issuing platform is designed to be able to help the world’s most innovative companies execute game changing products at scale, and it’s hard to find a company that embodies this more than Google. We’re honored to be working with Google Pay,” said Jason Gardner, founder and CEO of Marqeta.

Contactless payments and mobile wallet use have surged during COVID-19 shutdowns as people have shifted away from paying with cash or physical debit cards. Marqeta enables companies to instantly provision a tokenized card into a mobile wallet, allowing cardholders to instantly begin spending without having to manually enter card numbers.

“We are always looking for ways to make Google Pay more helpful to our users. By working with Marqeta, we are able to give our users another way to spend the funds in their Google Pay balance, making it even easier to pay for everyday items,” said Tarun Bhatnagar, VP, Payments Americas, Google Pay.

Founded in 2010, Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards. The firm supports some of the leading innovators at scale, including Square, Goldman Sachs, J.P. Morgan, Uber, Affirm, Instacart, and DoorDash, by providing advanced infrastructure and tools for building highly configurable payment solutions.