Marqeta to acquire TransactPay, terms not disclosed

Marqeta (MQ) announced that they have entered into an agreement under which Marqeta will acquire TransactPay. This transaction will significantly strengthen Marqeta’s card program management capabilities in the UK and Europe. “Marqeta’s business has seen tremendous growth in Europe, and we’re excited to bring the strength and talent of TransactPay within Marqeta as we build on TransactPay’s success to date and further accelerate our offerings for customers globally,” said Marcin Glogowski, SVP Managing Director, Europe and UK CEO, Marqeta. “Our all-in-one issuing platform enables our customers to create some of the most exciting and innovative card programs available today, creating new streams of revenue and opportunities to engage with their customers and build lasting loyalty. The TransactPay acquisition enables Marqeta to make it even smoother for our customers to grow rapidly while keeping product innovation and compliance at the forefront of their strategy.” “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.”