Mastercard and Marqeta Expand Payments Partnership

Mastercard's new investment into Marqeta will help the fintech expand into new regions and reach new partners.

Need to Know

  • The new partnership will help Marqeta expand into new regions, beginning with Asia-Pacific. Mastercard will also provide open access to its products for Marqeta customers.
  • Marqeta is a fintech that provides API technology to companies such as Square, Instacart, and DoorDash to help them issue cards (including debit and prepaid) and process payments.
  • Mastercard and Marqeta have worked together since 2014.
  • As part of the partnership, Mastercard has also invested an undisclosed amount in Marqeta and now owns a minority stake.


Expanding on a partnership that has been in place since 2014, Mastercard has invested in fintech Marqeta and now owns a minority stake in the company.

The new partnership will help Marqeta expand across the world, starting with a focus on Asia-Pacific. Mastercard will aid in this international expansion by streamlining Marqeta’s global network certification process, which is an eloquent way of saying that the two will expedite the methods in which providers are able to process payments through Mastercard’s network.

Marqeta, the “global modern card issuing platform,” provides tools and API infrastructure for companies like Square, Instacart, and DoorDash to offer their own payments cards, including debit and prepaid.

“With a shared vision to provide innovative and flexible financial products and solutions to our customers, we’re thrilled to expand our partnership with Marqeta,” said Sherri Haymond, EVP of digital partnerships at Mastercard. “We look forward to collaborating with Marqeta through this next stage of growth and enabling our joint partners to tap into capabilities that deliver differentiated experiences.”

Mastercard will also work to make it easier for Marqeta customers to access Mastercard services, which could end up as a big boon for Mastercard. Mastercard already works with nearly everyone under the sun (including Marqeta partner Instacart), but as one of the leading credit card companies in the world, it is always looking for new partners to develop exclusive relationships with.

This new partnership comes on the heels of Mastercard’s late-September expansion of the Digital First program, which allows consumers to apply online for credit cards and receive card information (such as credit card number, expiry date, and CVC2) almost immediately. Marqeta was one of many partners in that expansion, but will now work with Mastercard in a closer fashion to roll out Digital First.

“Mastercard’s culture of innovation and strong focus on social initiatives makes them a great DNA fit for Marqeta, and we’re excited to accelerate this relationship with our new global partnership,” said Jason Gardner, founder and CEO at Marqeta.

The two payments companies have a history of success. Early last year, Mastercard and Marqeta launched Square Card, a business debit card that helps SMBs manage cash flow. “We needed the right flexible and modern card issuing platform, and the right future-focused network partnerships to make this happen. Marqeta and Mastercard were a huge part in helping us launch and scale this program so successfully, and we’re excited to see them accelerate and grow this partnership globally,” said Christopher Sweetland, head of payments operations at Square.

Mastercard has been focused on innovation over the last year. It partnered with Ethoca to offer transparency on transactions; worked with Microsoft to build the future of digital finance and inclusion; and collaborated with America Express and Visa to create a streamlined one-click payment experience.