Marqeta Exceeds $1 Billion in Single Day Total Processing Volume (TPV), Representing a New Era of Scale for the Company

February 29, 2024 at 08:00 AM EST

Marqeta’s trusted modern card issuing platform enables its fast-growing customer base to build and launch native financial experiences at scale

Marqeta (NASDAQ: MQ), the global modern card issuing platform that enables embedded finance solutions for the world’s innovators, today announced that its platform processed more than $1 billion in volume in a single day for the first time, a significant new milestone for the company. This announcement comes shortly after Marqeta’s Q4 and Full Year 2023 earnings, where it announced that it had exceeded $200 billion in annual TPV only two years after it reached $100 billion, representing the unparalleled scalability and resilience of its modern platform.

“This milestone showcases the remarkable strength of our platform and steadfast ability to expand with our customers and help them grow," said Simon Khalaf, Marqeta’s Chief Executive Officer. “As more brands look to embed financial products into their offerings, our proven experience and knowledge of what it takes to deliver exceptional user experiences and operate card programs at scale make us ready to meet the demands of this growing market.”

Marqeta celebrates this milestone following a transformational 2023, marked by the expansion of its credit card platform to serve both consumer and commercial needs with full-scale processing and program management capabilities. Marqeta also outlined its path to profitability, renewing the majority of its customer volume and optimizing operational efficiency.

Read more about Marqeta’s platform here.

About Marqeta (NASDAQ: MQ)

Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards and embedded finance offerings. Marqeta’s platform, powered by open APIs, gives its customers the ability to build more configurable and flexible payment experiences, accelerating product development and democratizing access to card issuing technology. Its modern architecture provides instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorize and settle transactions. Marqeta is headquartered in Oakland, California and is certified to operate in more than 40 countries globally. For more information, visit www.marqeta.com, Twitter and LinkedIn.

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 and growth; 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.