Marqeta’s bid to expand beyond its core card-issuing business by offering ways for businesses to process financial transactions could expand its revenue and customer base, but also puts it in competition with a range of banking technology providers. The products, called Marqeta for Banking, would enable clients to offer new capabilities, including bill pay, direct deposit, and free ATM access.
“I've said this many times in the past — that every company's going to become a financial services company,” Marqeta CEO and founder Jason Gardner told Protocol. “This is just an extension of that: How do we help our existing customers become financial services companies?”
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