OAKLAND, Calif.--(BUSINESS WIRE)--Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced that it is part of the first cohort of companies to join Mastercard’s Network Enablement Partner (NEP) program in the Asia Pacific region. As a Network Enablement Partner, Marqeta is able to offer its customers throughout the APAC region live issuance on a faster timeline.
The NEP program provides Marqeta with access to Mastercard’s core infrastructure: its network, reach, solutions and information. With NEP, Marqeta is able to empower its Asia-Pacific customers to scale more quickly across multiple geographies, accelerate product innovation, and optimize performance and efficiency.
“Our partnerships throughout the world are critical to our success in new regions,” said Melissa Keir, VP of Global Expansion at Marqeta. “We’re proud to be among the first cohort of Partners to be welcomed by Mastercard into the NEP program in APAC. We look forward to working closely together to strengthen our existing relationship and bring more value to our customers in APAC.”
Marqeta is initially targeting fintechs and local disruptors across APAC that are looking to transform payments by creating digital-first, seamless customer experiences. These new markets are all committed to improving payment infrastructure and will be well-served by Marqeta and Mastercard through this partnership.
“As one of Mastercard’s first Network Enablement Partners to be onboarded in the Asia Pacific region, Marqeta is well-equipped to deliver card issuances in record time, and to help their fintech customers scale at speed across multiple geographies. By connecting directly with Mastercard through the NEP program, Marqeta enjoys privileged access to priceless information, training and resources that ultimately benefit their customers in the form of optimized performance and operational efficiency,” said Ben Gilbey, Senior Vice President, Digital Consumer Solutions, Asia Pacific, Mastercard.
With the recent announcement of new certifications in APAC, Marqeta’s platform is now enabled in multiple countries across the Asia Pacific region, having announced its Australian office in 2021. The company plans to establish Singapore as its Asia Pacific regional hub, building a broader team to support the region in 2022.
About Marqeta (NASDAQ: MQ)
Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards. Marqeta’s modern architecture gives its customers the ability to build more configurable and flexible payment experiences, accelerating time-to-market and democratizing access to card issuing technology. Marqeta's open APIs provide instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorize and settle payment transactions. Marqeta is headquartered in Oakland, California and is certified to operate in 39 countries globally. For more information, visit www.marqeta.com, Twitter and LinkedIn.
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to faster live issuance timelines and speed to market for APAC customers; projections for greater scale, accelerated product innovation, and optimized performance and efficiency; and other benefits to Marqeta’s inclusion in the NEP program. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: risks to the continued partnership between Marqeta and Mastercard and Marqeta’s access to the NEP program; the effect of and uncertainties related to the global COVID-19 pandemic on U.S. and global economies and demand for Marqeta’s and Mastercard’s respective services and products; the uncertainties and direct and indirect effects of the significant military action against Ukraine launched by Russia, including threats of attacks against U.S. financial institutions as retaliation against financial institutions for sanctions imposed against Russia; the risk that Marqeta and Mastercard respectively are unable to further attract and retain their respective customer bases; the risk that consumers will not perceive the benefits of Marqeta’s and Mastercard’s respective products and services; the risk that Marqeta's and Mastercard’s respective products and services do not operate as intended; the risk that Marqeta’s and Mastercard’s respective products and solutions will not achieve the expected market acceptance; and the risk that competition could reduce expected demand for Marqeta’s and Mastercard’s respective services. Detailed information about these risks and other factors that could potentially affect Marqeta’s business, financial condition and results of operations are included in the “Risk Factors” disclosed in Marqeta's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022, as such risk factors may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.