Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced new embedded finance customers Giftbit, Vivian and Whistle, showcasing how Marqeta’s platform enables non-financial services customers to integrate embedded banking and payment solutions into their products.
This allows Marqeta customers “to create seamless experiences that delight their users and result in greater customer loyalty and worker retention.” Marqeta has continued to “see momentum in embedded finance, with embedded finance customers counting for over half Marqeta’s bookings in the first half of 2023.”
Embedded finance is also “a key component in the $176B rewards and incentives market.”
Fast and flexible disbursement solutions are critical “for companies looking to reward loyalty or payout for research participation, or employers seeking a modern way to incentivize their employees.”
Giftbit is an elegant platform for enterprises and small businesses, “as well as schools and universities, to offer rewards and incentives to their employees and customers.”
Giftbit leverages Marqeta’s platform “for faster, more flexible, disbursement solutions to their growing international customer base.”
Leif Baradoy, CEO of Giftbit, said:
“Our customers value choice and flexibility, so modern prepaid cards are critical for rewards and incentives. Using Marqeta’s platform, Giftbit delivers a simple and remarkable prepaid reward experience to our customers and their recipients. We’re pleased to partner with Marqeta because of their expertise in payments and their innovative technology.”
Vivian Health is transforming how “the healthcare industry hires.”
As the healthcare jobs marketplace, Vivian empowers “a broad range of healthcare professionals to find jobs they love.”
The Vivian VIP program “offers participating clinicians first access to new job openings. It also flags them to recruiters so clinicians hear back sooner on opportunities, and recruiters fill jobs faster.”
Now, with Marqeta, Vivian is providing cash rewards “to travel clinicians with VIP Elite status – those who find roles on their platform.” By leveraging Marqeta’s technology, Vivian can seamlessly “issue disbursement cards, ensuring that these rewards are easily accessible to their valued healthcare professionals.”
Vivian believes that by “recognizing their efforts and providing tangible rewards, they can foster a sense of loyalty and appreciation that extends far beyond the job search journey.”
Todd Pollak, Chief Revenue Officer, Marqeta, said:
“Embedded finance enables companies to create a seamless payments experience, helping them build loyalty among employees and reduce friction with their customers. In a highly competitive environment for talent, embedded finance offerings can make a lasting impression on potential workers and customers. Marqeta is thrilled to work with dynamic companies like Giftbit, Vivian and Whistle to help them develop innovative payments offerings with embedded finance, resulting in greater loyalty and retention for their customers and workforce.”
As noted in the update, Marqeta’s embedded finance and modern card issuing platform empowers its customers “to create customized and innovative payment cards and embedded finance offerings.”
Marqeta’s platform, powered “by open APIs, gives its customers the ability to build more configurable and flexible payment experiences, accelerating product development and democratizing access to card issuing technology.”
Its modern architecture provides instant “access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorize and settle transactions.”
Marqeta is headquartered in Oakland, California and is “certified to operate in 40 countries globally.”