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Marqeta Exceeds $1 Billion in Single Day Total Processing Volume (TPV), Representing a New Era of Scale for the Company
Marqeta (NASDAQ: MQ), the global modern card issuing platform that enables embedded finance solutions for the world’s innovators, today announced that its platform processed more than $1 billion in volume in a single day for the first time, a significant new milestone for the company. This announcement comes shortly after Marqeta’s Q4 and Full Year 2023 earnings, where it announced that it had exceeded $200 billion in annual TPV only two years after it reached $100 billion, representing the unparalleled scalability and resilience of its modern platform.
“This milestone showcases the remarkable strength of our platform and steadfast ability to expand with our customers and help them grow,” said Simon Khalaf, Marqeta’s Chief Executive Officer. “As more brands look to embed financial products into their offerings, our proven experience and knowledge of what it takes to deliver exceptional user experiences and operate card programs at scale make us ready to meet the demands of this growing market.”
Marqeta celebrates this milestone following a transformational 2023, marked by the expansion of its credit card platform to serve both consumer and commercial needs with full-scale processing and program management capabilities. Marqeta also outlined its path to profitability, renewing the majority of its customer volume and optimizing operational efficiency.
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