Uber and Marqeta Announce Global Card Issuing Partnership
- 18.11.2020 05:26 pm
Marqeta, the global modern card issuing platform, and Uber, the multinational ridesharing pioneer and delivery platform, announced today that the two companies have entered into a strategic global card-issuing partnership. Marqeta is already supporting the global growth of Uber Eats through this new partnership, and will serve as Uber’s card issuing partner for future projects.
Uber will rely on Marqeta’s modern card issuing technology as a key part of the financial infrastructure that will support its ecosystem of apps, which have more than 100 million monthly global users. Marqeta’s modern platform helps businesses issue physical, virtual, or tokenized cards while significantly reducing time to market. Uber plans to integrate Marqeta technology across multiple product verticals, and use the Marqeta platform in several major international markets.
Uber Eats is now live with Marqeta in the United States, with European expansion ambitions. Following this initial use case, Marqeta and Uber plan to continue their partnership into new verticals and geographies.
“A rapid digital transformation is upending everything from how we eat, to how we navigate our cities. As Uber looks to build out a global ecosystem that our users can rely on in all facets of their lives, it was clear we needed a sophisticated card issuing and payments processing partner to reach our true potential,” said Jennifer Vescio, Global Head of Business Development at Uber. “From our earliest conversations with Marqeta we could see that its modern card issuing platform would be a crucial building block for Uber in executing the future. Their single global platform aligns perfectly with Uber’s global scale, and their team is the strongest we’ve seen in the industry.”
Uber will make use of Marqeta’s card issuing technology to streamline its payments experiences and create more seamless interfaces throughout its wider ecosystem. Marqeta’s tech will help Uber provide its users with one central payment experience across multiple modes of transit, and help Uber create new efficiencies in its Eats product.
“Marqeta’s card issuing platform was designed to meet the needs of product-led innovators and disruptors who would never be satisfied with out-of-the-box, legacy solutions,” said Jason Gardner, Marqeta founder and CEO. “Uber is one of the most innovative companies of the last decade and has a track record of creating magical payment experiences. We’re excited to set out with them on a new global partnership and bring new innovations to market that all of their users can benefit from.”