Marqeta Announces New Enhancements to Its Program Management Capabilities, Reducing the Complexity of Building Modern Payment Experiences

October 22, 2024 at 07:00 AM EDT

Marqeta’s new UX Toolkit and Portfolio Migration products aim to greatly decrease the time it takes to migrate cardholders onto the Marqeta platform and design delightful new cardholder experiences.

Marqeta (NASDAQ: MQ), the global modern card issuing platform that enables embedded finance solutions for the world’s innovators, today introduced two new products – UX Toolkit and Portfolio Migrations – to its card program management tools. Marqeta’s program management capabilities combine the power of its technology with its breadth of expertise around card implementation, helping to drive the success and scalability of its customers’ card programs. UX Toolkit will allow Marqeta’s customers to create modern payment experiences from scratch with fewer development resources required, while its Portfolio Migration service reduces complexity for customers upgrading existing card programs onto the Marqeta platform, without impacting their existing cardholder experience. Combined, these two products are expected to further enhance Marqeta’s leadership in program management and enable its customers to deliver better user experiences for their cardholders.

“Card programs that fail to meet consumer expectations risk being left behind. The market is moving quickly and innovators need a partner like Marqeta that can keep up,” said Simon Khalaf, CEO of Marqeta. “As leaders in card program management, Marqeta is constantly raising the bar, making it easier for companies to move to our platform and create delightful experiences that meet consumers where they are.”

UX Toolkit aims to eliminate months of front-end development, allowing for amazing payment experiences to be built faster

The needs of cardholders are changing rapidly, and Marqeta's UX Toolkit improves the process of developing front-end experiences for its customers, significantly reducing development time. The toolkit was designed to comply with current regulatory requirements and is pre-approved by several partners, including major card networks, removing the need for businesses to manage on their own.

UX Toolkit allows its customers to build truly unique and branded cardholder experiences, guided by Marqeta’s deep expertise in designing payment flows. It gives customers access to a comprehensive set of User Interface (UI) components and templates optimized for Marqeta’s APIs, that allow its customers to design engaging front end cardholder experiences for debit and credit programs. With the UI components, businesses can more easily build and update the front-end experience for onboarding customers, funding accounts, PIN management and security, transaction history, filing disputes and account statements. UX Toolkit also includes the Marqeta Studio, a builder environment that provides extensive customization options for the UI components, including theme, color, logo, shape, and font, to fully match the business’s brand and ensure consistency across the entire user interface. Several Marqeta customers, including Bold.org and Finfare, have signed on to use UX Toolkit to integrate the features into their existing products and improve their customer experience.

“As soon as Marqeta showed us its new UX Toolkit, its capacity to accelerate how we create exceptional cardholder experiences was readily apparent,” said Dror Liebenthal, Co-Founder and CEO of Bold.org. “With this toolkit, we can easily and quickly modernize our payment experience to reflect our brand and meet the needs of our customers.”

Portfolio Migration removes the complexity of transferring card programs

Moving a payment card portfolio from any processor is a complicated and onerous process, often requiring significant time and resources. Marqeta's Portfolio Migration service removes the complexity of transferring card programs, ensuring a smooth transition and seamless cardholder experience. This service, coupled with Marqeta’s white-glove approach, utilizes Marqeta's advanced migration engine to move large volumes of data and align that data with Marqeta's own standardized scale. As a result, customers have access to Marqeta’s advanced card management features and data analytics that can improve the cardholder experience. Portfolio Migration is a key component of Marqeta's program management capabilities, reducing the operational burden of migrating card programs to its platform. With Portfolio Migration, Marqeta proactively addresses and mitigates potential issues, allowing its customers to focus on what they do best, delivering exceptional user experiences that meet cardholder demands.

“Our new UX Toolkit and Portfolio Migrations engine represent the full strength of Marqeta, innovative new products shaped by our unmatched experience building and scaling card programs,” said Matt Sollie, SVP & GM of Card Program Management at Marqeta. “It’s never been easier to migrate a program to Marqeta, build out a best-in-class front-end payments experience and tap into the full benefits of our program management tools.”

Learn more about Marqeta’s program management capabilities here.

About Marqeta (NASDAQ: MQ)

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing more than $200 billion in annual payments volume in 2023. Marqeta is certified to operate in more than 40 countries worldwide and counting. Visit www.marqeta.com to learn more.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; and those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.