Card issuing platform Marqueta has joined Temenos MarketPlace, an ecosystem of FinTech solutions for banks run by banking software firm Temenos.
Marqeta currently powers the payment solutions of market leaders such as Uber, Klarna and Square. According to the company, by joining the MarketPlace it is bringing its card issuing solution to banks worldwide, enabling banks to bring new card and payment ideas to market much quicker.
According to Temenos, the integration of Marqueta enables the former’s banking and financial institution customers to leverage Marqeta’s open API, tokenisation-as-a-service, just-in-time gateway funding.
Marqeta Europe managing director Ian Johnson said, “We’re impressed by Temenos’ work in curating the best of modern fintech solutions in one place for the benefit of forward-thinking and innovative financial institutions around the world. By working alongside Temenos and other modern solutions within its MarketPlace, we’re able to support the ambitions of businesses who might wish to call upon a range of expertise from within today’s fast-evolving payments ecosystem. Indeed, it’s clear that the future of payments is platform-based, and this partnership is about helping as many businesses as possible take advantage of the opportunities this landscape offers.”
Temenos product director for innovation and ecosystem Martin Bailey added, “Marqeta’s card issuing and payment processing platform is setting the industry standard for API-first payments functionality. In the face of increased competition and rising expectations, banks must compete on experience to attract and retain customers and grow share of wallet. Agility and speed to market are key.
“This latest addition to the Temenos MarketPlace offers a pre-integrated solution for banks to create a tailored payment experience and build card programs in hours, not months. We’re delighted this exciting business has joined MarketPlace and confident it will benefit our customers now and into the future, thanks to Marqeta’s commitment to continual innovation.”
A recent study by Marqeta examined the potential roadblocks and innovations that may arise over the next decade in the payments industry.
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