Marqeta signs three new digital banking customers

By Megha Bhattacharya

Card issuing platform, Marqeta announced that it has secured three new digital banking clients in the UK and Europe. The company’s digital banking solution has been adopted by Dozens, P.F.C. and Novus to boost payments, issue cards and accelerate development. The collaborations are expected to go live with Marqeta in 2021.

“Dozens’ mission is to help our customers manage, save and grow their money. As our business evolves and we add new services to provide our customers with more choice, it was key for us to partner with a new payment processor that would enable us to become more agile,” said Aritra Chakravarty, Founder and CEO of Dozens. Dozens offers spending, saving and investment services.

“Marqeta is that perfect partner – its API-led approach gives us the control we need to customise our new Visa debit card product, while also helping us to create a new offering for our B2B brand Pi1. So, in addition to Dozens’ customers enjoying their new cards, Pi1 clients taking our Visa cards with Marqeta processing can now enjoy additional out-of-the-box features like merchant reconciliation, metadata from Google Maps and Places APIs, access to our fraud systems and more, making it a cutting-edge combination of card issuing and processing.”

According to Marqeta, its European Digital Banking Solution allows banks and FinTechs to develop and test card programmes. The platform also allows the FinTech’s customers to develop new features and programmes integrating with existing systems and software. It offers instant virtual card issuing capabilities and advanced spend controls to engage users and grow card use.

Kevin Albrecht, CEO of P.F.C. (Personal Finance Co.) said, “We partnered with Marqeta because their platform will allow us to rapidly build and launch new payments features, as well as help support us with our future international expansion plans.” P.F.C. is a Swedish neobank.

“Marqeta will be a vital partner for us as we get ready to launch next year, helping us to speed up time to market while also empowering us to customise features and scale quickly our impact- and sustainability-driven proposition,” commented Hristian Nedyalkov, Co-Founder and CEO of Novus. Novus is a sustainable digital bank with plans of launching in 2021.