- Card issuing platform Marqeta Inc MQ, payments leader Mastercard Inc MA, and marketplace payment engine Paycast (an SPG company) have collaborated to launch a digital card product.
- Marqeta supports Paycast with its open API platform, enabling digital builders like Paycast to create modern financial products with control and speed.
- Paycast will leverage Marqeta’s virtual card functionality, helping Paycast customers to participate in the authorization process, and support anti-fraud measures.
- Marqeta and Mastercard provided strategic funding to SPG to enhance the Paycast proposition.
- Mastercard will help use virtual cards on its global card network, providing industry and functional expertise.
- Price Action: MQ shares traded higher by 9.48% at $22.41 on the last check Wednesday.
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