Payments platform Marqeta has become a certified Mastercard processor and this could give European challenger banks reason to celebrate.
That is the angle Marqeta took when it announced the deal, saying that it will now be better placed to help FinTech firms and digital banks to get to market faster.
“We’re pleased to be able to partner with one of the defining names in global payments to empower FinTech players such as Twisto to get to market faster and easier,” said Ian Johnson, head of European growth at Marqeta. “With Marqeta now able to process Mastercard card payments, more FinTechs across Europe will have the agility and flexibility to provide innovative digital banking services.”
The new partnership has already had reason to prove its chops by helping Twisto, a payments app linked to a card, become the first European customer to deploy Marqeta’s card processing capabilities with Mastercard.
By dong so, Twisto will now have access to a fast, transparent and hassle-free way to issue cards as well as access to actionable analysis of real-time transaction data.
Tapping into this solution has already yielded Twisto 70,000 signups and more than 20,000 card orders. “[Mastercard and Marqeta have] been fundamental to enabling our success on the technology side,” said Michal Smida, founder and CEO at Twisto. “We look forward to exploring expansion opportunities across the EU on the back of this solution.”
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