Marqeta Announces Global Expansion of Uber Eats Partnership into Eight Markets

May 01, 2024 at 08:00 AM EDT

Marqeta will help power Uber Eats in major markets around the world, showcasing the global reach of Marqeta’s platform and ongoing partnership with Uber

Marqeta (NASDAQ: MQ), the global modern card issuing platform that enables embedded finance solutions for the world’s innovators, today announced the expansion of its US partnership with Uber Eats into eight additional markets: Canada, Australia, Mexico, Brazil, Colombia, Peru, Chile and Costa Rica. Marqeta’s global platform allows customers to launch card products in more than 40 markets through a single integration. This scale helps partners such as Uber Eats reduce effort and time-to-market for subsequent launches.

“As Uber continues to grow our platform and expand services in new and existing markets, a sophisticated partner is critical,” said Karl Hébert, Vice President of Payments, Risk, and Identity at Uber. “We’re pleased to continue our work with Marqeta, leveraging their global scale, to allow us to easily launch card programs in new markets and to continue to provide our couriers with the latest digital payments tools to help them earn more.”

Since Marqeta began partnering with Uber in 2020, the Marqeta team has supported Uber’s growth across several new projects in the US, including the Uber Pro Card via Marqeta’s partnership with Branch. Through this partnership and multi-market expansion, the Marqeta team can help Uber bring on more merchants and engage more users.

“When thinking of a magical payment experience, Uber is one of the first examples that come to mind. We’re proud to celebrate over three years of working together in the US, and are excited to help grow their Eats business in these additional markets,” said Simon Khalaf, CEO, Marqeta. “We look forward to continuing our partnership and launching more innovative products and services to help Uber achieve its goals of getting people what they need more easily and helping couriers earn more.”

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.