Marqeta to integrate into Western Union’s digital bank platform in Europe

• Marqeta (NASDAQ:MQ) to integrate its solution into Western Union’s next generation real-time multi-currency digital wallet and digital banking platform in Europe.
• The company's modern card issuing platform will allow Western Union’s entire remittance service to be offered online, with funds disbursed to a physical or virtual Visa (V) card which will extend relationship with its customers, creating a new banking experience by connecting cards to Western Union’s new digital payment platform.
• “Western Union has been a pioneer in payments, helping to bring people closer together wherever they are through their international money transfer services. We are thrilled to be working together on this exciting new venture for their European business and to be driving forward with such a well-respected international brand,” said Anna Porra, European Strategy Director at Marqeta Europe. “This hugely complex project was an exciting challenge, so we are very proud of the product we have all built. 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.”
• Marqeta (MQ) initiated with a buy at UBS.
• On YTD basis, MQ lost around 36%.