Fintechs Moss and Marqeta in SME card issuing partnership

Fintechs Moss and Marqeta have announced a new partnership, which will allow Moss customers to issue corporate cards instantly through Marqeta's platform

Business spend management fintech Moss has announced a new partnership with card issuing platform Marqeta, which will allow European SMEs to gain better visibility and control over their corporate spending.

Moss customers already have access to a corporate credit card that can be used for all types of business spending, but now they will be able to create and use new cards in a matter of seconds using Marqeta’s open API platform. With Moss, they can then track spending on that card in a single dashboard, providing finance teams with the real-time data required for accurate financial reporting. At the same time, it will save time by streamlining processes and give finance leaders the oversight needed to inform decision making.

The new partnership will also allow Moss to test card programmes, including transactions, before rolling them out to real customers. This will mean that Moss is able to ensure product localisation efforts do not impact customer experience, potentially playing a significant role in the company’s continued expansion.

It is the latest step in the fintech's growth; at the beginning of the year, Moss was valued at more than €500mn – half-way to the coveted unicorn status – after raising a further €75mn in a Series B funding round. To date, it has raised over €130mn in funding.

Tackling the ‘static’ nature of card issuing

In a statement, the London-based fintech hails Marqeta’s “flexibility and agility”, saying the two firms share a commitment to driving forward the finance function within small and medium-sized businesses.

Moss Co-Founder and COO Stephan Haslebacher says “Marqeta has made our international expansion journey simple, and we’re pleased with how our ambitions to continuously innovate align fully. Our partnership is key in enabling us to fulfil our mission of elevating the finance backbone of the SME economy in Europe and beyond.”

Jeff Parker, SVP and Managing Director International at Marqeta, adds: "Historically card products were static and it could take weeks or even months to launch a standard new card programme. We're proud to partner with Moss to enable them to add new innovative card products and launch in new markets quickly and seamlessly, delivering the highest calibre of customer service to their spend management customers across Europe."

Share

Featured Articles

Why Web3 payment services will overcome legacy limitations

Mark Smargon, founder and CEO of Fuse, discusses how Web3 will transform the payments space and overcome financial legacy limitations

Interview: We asked a chatbot what it thinks about chatbots

We interviewed ChatGPT, the text-based chatbot taking the internet by storm, about the future of artificial intelligence (AI) in banking and finance

The challenges of address data in cross-border payments

A truly global solution is critical to meeting cross-border needs at scale, writes Loqate, a leading developer of global address verification solutions

Top 10 fintech disruptions to watch out for in 2023

Financial Services (FinServ)

PBF CEO, Morgan McKenney on blockchain, DeFi & tokenization

Crypto

UAE-based BNPL fintech Tabby secures $58mn in Series C round

Digital Payments