The Bancorp, Inc. (“The Bancorp”) (NASDAQ: TBBK) and Marqeta, the commerce and payments innovator, today announced a new issuing and processing partnership. As a result of the newly formed relationship, The Bancorp will be able to offer its clients and program managers Marqeta’s leading multi-purse functionality, while at the same time being able to issue open and closed loop prepaid cards to Marqeta’s growing customer base.
Well known for its technology powering prepaid programs from loyalty to gifting to employee programs, Marqeta’s +M Platform is the first of its kind to allow consumers to store and access an unlimited number of closed and open-loop accounts via a single payment card.
"We are excited to announce our new relationship with Marqeta, who is quickly becoming recognized as a dynamic leader in the consumer payments space. The +M Platform will be a wonderful addition to our existing stable of processor relationships, and will enable us to provide unique and customized solutions that meet our clients’ needs," stated Jeremy Kuiper, Managing Director of The Bancorp’s Payment Solutions group.
“Marqeta has worked hard to create and commercialize our +M Platform to enable dynamic multiple account functionality all on a single card. By aligning with The Bancorp, the largest prepaid issuer in the country, we have chosen a partner that both leverages our technology as well as helps us grow the distribution of our unique products and programs. We look forward to a deep and lasting partnership with them,” said Marqeta Founder and CEO, Jason Gardner.About The Bancorp’s Payment Solutions group The Bancorp’s Payment Solutions group is a highly specialized division of The Bancorp and is the leading issuer of network branded prepaid cards. Through long-standing relationships with card associations, industry leading networks and processors The Bancorp consistently delivers cutting-edge, innovative programs that are re-shaping the payments landscape. For more information about how The Bancorp’s Payment Solutions group is “Changing the Way the World Pays TM" visit www.thebancorp.com. About Marqeta Founded in 2010, Marqeta is a commerce and payments platform that empowers large enterprises to better serve their constituents by participating in the payments stream, enables merchants to capture repeat business and greater customer spend, and gives consumers more money for the things they buy everyday. The company is headquartered in Emeryville, Calif. Learn more about Marqeta at www.marqeta.com or by calling 888-462-7738. The +M Platform features and capabilities can be found at www.marqeta.com/plusm.