Card issuing platform Marqeta has reached an agreement to acquire a BIN sponsorship provider TransactPay, aimed to strengthen its card programme management capabilities across the UK and Europe.
Financial terms of the deal remain undisclosed.
TransactPay is licenced as an E-Money Institution (EMI) and authorised to issue e-money and undertake payment services across the UK and European Economic Area.
Set up in 2012, it has presence in 25 countries, supports 16 currencies, and holds principal membership with both Mastercard and Visa.
Marqeta customers can now access full card programme management capabilities in the UK and EU.
This includes customer and production support, as well as banking, network, and regulatory relationships to scale card programmes in the region.
With certification to operate in over 40 countries, Marqeta simplifies the launch process in new markets.
Wilson Sonsini Goodrich & Rosati served as legal counsel to Marqeta during this transaction.
Marqeta SVP managing director, Europe and UK CEO Marcin Glogowski said: “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. 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.”
TransactPay CEO Aaron Carpenter said: “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.”
In October 2024, Marqeta introduced Marqeta Flex, a new buy now, pay later (BNPL) solution designed to integrate with payment apps and wallets.
