Marqeta (NASDAQ: MQ) a leading card issuance and management platform, is on a roll having announced multiple partnerships in the past few days. Today, Marqeta is revealing a collaboration with Bill.com (NYSE: BILL) to facilitate new commercial card products for its institutional clients.
Bill.com is a provider of cloud software that facilitates back-office processes for SMEs. Bill.com will expand its card payment capabilities by using Marqeta’s platform. Marqeta explains that this new partnership assists Bill.com’s business goals to digitize payments and streamline accounts payable workflows for financial institution customers.
“Bill.com is addressing a huge gap in the market helping small and midsize businesses access much needed payment innovation. Our mission at Marqeta is to provide technology solutions to empower innovators to change the world, which we see Bill.com embodying closely.”
René Lacerte, founder and CEO of Bill.com, said the partnership will help them serve their customers with enhanced financial operations capabilities, enabling faster and easier payments, “so that they can focus on what they do best – running their business.”
Marqeta’s share price has increased in recent days and is currently hovering at or above its 52 week high.