Marqeta has added two new products to its card program management tools.
The new UX Toolkit helps customers create modern payment experiences from scratch, while the new Portfolio Migration service makes it easier for companies to upgrade their existing card programs onto the Marqeta platform, the company said in a Tuesday (Oct. 22) press release.
“As leaders in card program management, Marqeta is constantly raising the bar, making it easier for companies to move to our platform and create delightful experiences that meet consumers where they are,” Marqeta CEO Simon Khalaf said in the release.
With the UX Toolkit, Marqeta customers can develop front-end experiences more quickly while complying with current regulatory requirements, according to the release. This product provides access to user interface (UI) components and templates that are optimized for Marqeta’s application programming interfaces (APIs) and help customers build and update the front-end experience.
The Portfolio Migrations service makes it easier to transfer card programs from any processor while ensuring a seamless experience for cardholders, per the release. This service moves large volumes of data, aligns that data with Marqeta’s own standardized scale, and proactively addresses and mitigates potential issues.
“Our new UX Toolkit and Portfolio Migrations engine represent the full strength of Marqeta, innovative new products shaped by our unmatched experience building and scaling card programs,” Matt Sollie, senior vice president and general manager of card program management at Marqeta, said in the release. “It’s never been easier to migrate a program to Marqeta, build out a best-in-class front-end payments experience and tap into the full benefits of our program management tools.”
Marqeta reported in August that its total processing volumes (TPVs) soared 32% to $71 billion in the second quarter, adding that this growth and momentum “goes well beyond financial services.”
Use cases across the company’s platform continue to grow, including expense management, small and medium-sized business (SMB) working capital and buy now, pay later (BNPL) options.
“While we have anticipated demand for consumer use cases, we are thrilled by the demand in the commercial space as well, especially with SMBs,” Khalaf said Aug. 7 during Marqeta’s quarterly earnings call.
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