Marqeta, Inc. - MQ STOCK NEWS

Marqeta (NASDAQ: MQ) has partnered with Spendesk Financial Services (SFS) as their issuer processor in Europe. This collaboration enhances Spendesk's spend management and procurement platform, serving over 4,000 SMBs across Europe.

Through Marqeta's open API platform, Spendesk now offers enhanced features including:

• Real-time card processing and secure transactions
• Customizable spend controls for both physical and virtual cards
• Dynamic expense screening and authorization
• Integration with existing accounting software
• AI-powered solution for procurement and expense management

The partnership enables businesses to implement time-specific spending restrictions, monitor unusual transactions, and approve/deny transactions in real-time, significantly reducing friction in expense management processes.

Marqeta (NASDAQ: MQ) announced its partnership with Trading 212 to expand into 20 new European markets within six months. Trading 212, the UK's most downloaded investing app since 2016, leverages Marqeta's platform to power its debit card program offering zero fx fees, no account fees, and 0.5% cashback rewards that can be reinvested.

Trading 212, serving over 3 million customers, is pioneering zero-commission stock trading in the UK and Europe. The partnership utilizes Marqeta's presence in 40+ countries to accelerate market entry and implements advanced security features including Real Time Decisioning and 3D Secure for fraud prevention.

Green Dot (NYSE: GDOT) and Marqeta, Inc. (NASDAQ: MQ) have announced a strategic collaboration to enhance cash services across the United States. The partnership leverages Green Dot's extensive network of over 95,000 retail locations nationwide, enabling convenient cash deposits for Marqeta's customers.

The collaboration addresses the persistent demand for cash services, particularly among low-to-moderate income (LMI) and mature consumers aged 55-plus, who still prefer cash transactions according to Federal Reserve data. Through this partnership, customers can access cash deposit services at major retailers including Walmart, Walgreens, 7-Eleven, and CVS.

The Green Dot Network, powered by Arc, provides comprehensive coverage with 96% of the U.S. population living within three miles of a service location. This initiative aims to bridge the digital divide while offering affordable financial services, particularly beneficial in underbanked communities where traditional banks are reducing their physical presence.

Marqeta (NASDAQ: MQ) has announced an agreement to acquire TransactPay, a European E-Money Institution and BIN Sponsor. This strategic acquisition will enhance Marqeta's card program management capabilities in the UK and European markets.

TransactPay, founded in 2012, operates in 25 countries, supports 16 currencies, and holds principal membership with Mastercard and Visa. The company is licensed to issue e-money and provide payment services in the UK and European Economic Area.

The acquisition will enable Marqeta's customers to access comprehensive card program management capabilities in the UK and EU without the complexity of multiple partnerships. TransactPay's integration will provide dedicated customer support, production assistance, and strategic relationships with banks, networks, and regulators.

Marqeta (NASDAQ: MQ) announced an immediate leadership transition, with CFO Mike Milotich appointed as Interim CEO, following Simon Khalaf's departure from his roles as CEO and Director. Milotich will maintain his CFO position while serving as interim chief executive.

The Board of Directors has initiated a comprehensive search process with a leading executive search firm to identify Marqeta's next permanent CEO. According to Independent Board Chair Judson C. Linville, this transition comes as the company prepares for a new fiscal year and aims to create new growth opportunities.

Milotich, a payments industry veteran, has been recognized for his role in driving Marqeta's growth and path to profitability. The company, known for pioneering modern card issuing solutions for fintechs and commerce disruptors, is focusing its strategy on innovation and profitable growth as it expands into the embedded finance market.

Marqeta (NASDAQ: MQ) reported strong Q4 2024 results with Total Processing Volume (TPV) reaching $80 billion, up 29% year-over-year. The company achieved Q4 Net Revenue of $136 million (+14% YoY) and Gross Profit of $98 million (+18% YoY), with a GAAP Net Loss of $27 million.

For full-year 2024, TPV grew 31% to $291 billion, while Net Revenue decreased 25% to $507 million, primarily due to the Cash App renewal impact. The company posted annual Gross Profit of $352 million (+7% YoY) and GAAP Net Income of $27 million.

Key developments include: signing new programs including first consumer credit co-brand partnership, agreement to acquire TransactPay for European expansion, plans to add American Express network, and Board authorization for $300 million share repurchase program.

Marqeta (NASDAQ: MQ) announced its partnership with Trading 212 to power the company's expansion into 20 new European markets within six months. Trading 212, the UK's most downloaded investing app since 2016, offers zero-commission stock trading services and has over 3 million customers.

The partnership enables Trading 212 to issue debit cards with zero fx and account fees, offering 0.5% cashback rewards that can be reinvested on the platform. Marqeta's platform, certified in over 40 countries, simplifies geographic expansion and includes advanced fraud protection features like Real Time Decisioning and 3D Secure authentication.

Trading 212 selected Marqeta for its ability to accelerate market entry and provide a unified solution across multiple regions, rather than launching independently in each country. The collaboration aims to democratize market access and enhance customer engagement through integrated payment solutions.

Marqeta (NASDAQ: MQ) has announced it will host a conference call and webcast to discuss its fourth quarter and full year 2024 financial results on Wednesday, February 26, 2025, at 4:30 pm ET. CEO Simon Khalaf and CFO Mike Milotich will host the call. The financial results will be released via press release after market close on the same day.

Marqeta's platform enables companies to build and integrate financial services into their branded experiences. The company has demonstrated significant scale, processing over $200 billion in annual payments volume in 2023. The platform operates in more than 40 countries, offering built-in compliance and security features, and enables businesses to leverage real-time data for personalized financial solutions.

Marqeta (NASDAQ: MQ) announced its partnership with Slope to power the Slope Card, a Buy Now, Pay Later (BNPL) solution for commercial customers. The card offers businesses 30 or 60-day loan options for both in-store and online purchases, providing flexible payment solutions and improved access to working capital.

Global retailer IKEA has already implemented the Slope Card through its IKEA for Business program, offering BNPL options to small and medium-sized business clients. Slope selected Marqeta for its proven expertise in powering scalable card programs and its single, trusted platform. The partnership aims to transform traditional business financing by providing easier access to low-interest loans and enhanced cash flow management.