Marqeta acquires TransactPay to boost UK & EU payment services

Marqeta has completed the acquisition of UK-based TransactPay, expanding its card programme management services in the UK and the European Union.

The acquisition follows previous announcements by Marqeta regarding its plans to consolidate digital payments capabilities and streamline customer access to payment solutions throughout Europe.

Enhanced card programme offering

TransactPay, a BIN Sponsorship provider licensed as an E-Money Institution, enables the issuance of e-money and payment services across the UK and the European Economic Area. The integration of TransactPay's services with Marqeta's platform is targeted at simplifying the management of card programmes for customers, diminishing the need for separate partnerships, and strengthening Marqeta's support infrastructure.

Customers of Marqeta and TransactPay will have continuous access to dedicated customer and production support, as well as established relationships with banks, networks, and regulators to aid scaling card programmes across the region.

Leadership perspectives

Marcin Glogowski, SVP Managing Director, Europe and UK CEO, Marqeta, said:

"In today's evolving global landscape, from regulatory modifications to rapid economic policy changes, the ability to deliver innovative payments products and scale quickly while staying compliant with requirements across Europe is critical. With the combined capabilities of TransactPay and Marqeta, we're helping our customers address these fundamental payment needs. Our business in Europe continues to grow, with total processing volume more than doubling year-over-year. This acquisition furthers this growth and demonstrates our commitment to the European and UK markets as part of our overall global strategy."

TransactPay's Chief Executive Officer, Aaron Carpenter, commented on the collaboration and future plans with Marqeta:

"We are proud to continue as a trusted partner to Marqeta, combining our capabilities to help our customers accelerate growth and bring new digital payments offerings to market more efficiently. We look forward to continuing to grow and scale our technology with Marqeta across Europe, delivering the innovative solutions that our customers are seeking."

Market expansion

The acquisition will allow Marqeta's existing customer base to broaden its operations more easily into European markets. The company reported that its total processing volume in Europe has more than doubled year-over-year, reflecting increased demand for flexible payment solutions in the region.

Under the acquisition, Marqeta will offer integrated and regulated digital payments services that are intended to reduce administrative complexity for businesses seeking card programme management in compliance with UK and EU standards.

Operational scope

Marqeta's platform is operational in more than 40 countries and processed nearly USD $300 billion in payment volume in 2024. The expansion signals Marqeta's intention to support a wide variety of embedded finance and branded payment solutions for business customers within and beyond Europe.

Customers of both entities are expected to benefit from improved pathways to bring digital payment products to market and facilitate cross-border financial operations without the burden of additional service providers.