Western Union Taps Marqeta for Payment Card Issuance

https://finovate.com/western-union-taps-marqeta-for-payment-card-issuance/
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  • Western Union has tapped Marqeta to enable clients in Europe to send remittances to a physical or virtual Visa card.
  • Marqeta’s open API will allow Western Union to replicate its payments card program to other geographies.
  • Thanks to Marqeta’s expertise, Western Union can now gradually add new features to its digital money transfer app.

Card issuance platform Marqeta has been busy lately and is adding to its to-do list, as well as its client base, today. The California-based company is partnering with money transfer company Western Union, which will integrate Marqeta’s payment cards solution into its digital wallet and digital banking platform in Europe.

The new relationship will enable Western Union to offer its remittance service online with the ability to disburse funds to either a physical or virtual Visa card. Ultimately, the addition of payment cards means that Western Union can now offer clients a more holistic experience.

Leveraging Marqeta’s scalable open API, Western Union can easily replicate its payments card program across international markets and will have access to real-time insights into customer card activity. “The Marqeta platform delivers all the functionality needed to support the goals of our new digital banking program, alongside the flexibility to enter new markets with ease and design new features that meet the needs of our customers,” explained Western Union Chief Data and Innovation Officer Tom Mazzaferro.

Founded in 2010, Marqeta offers a range of payments-related services, including direct deposit, ACH transfers, ATM withdrawals, and more. With today’s partnership, Western Union now has the ability to leverage this expertise by gradually adding new features to its digital money transfer app.

“We are thrilled to be working together on this exciting new venture for their European business,” said Marqeta Europe’s European Strategy Director Anna Porra. “At a time when customer expectations are rising, creating a data-driven solution that leverages modern card issuing technology, as well as the expertise of an ecosystem of global partners, is critical to help gain a share of wallet.”


Photo by Ono Kosuki

https://finovate.com/western-union-taps-marqeta-for-payment-card-issuance/