WILMINGTON, Del.--(BUSINESS WIRE)--
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 PaysTM" 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.
The Bancorp, Inc.
Andres Viroslav, 215-861-7990
aviroslav@thebancorp.com
or
Marqeta
Serena
Hom, 510-779-3016
shom@marqeta.com
www.marqeta.com
Source: The Bancorp, Inc.