Internet Travel Solutions to Utilize Marqeta Platform to Launch Expense Commercial Credit Card

Marqeta (NASDAQ: MQ), the global modern card issuing platform enabling some of the world’s most innovative embedded finance solutions, announced its new customer, Internet Travel Solutions (ITS), a provider of travel management software that will utilize Marqeta’s comprehensive credit card platform to launch a multi-use travel and expense (T&E) commercial credit card for the mid-sized business market.

Business travel in the US is rebounding “to pre-pandemic levels, with $237 billion dollars in spend expected in 2024, almost 90% of the total in 2019.”

With this recent growth and the profound shift “to digital services during the pandemic, businesses seek flexible expense management tools that match their evolving needs.”

ITS has strategically partnered with Marqeta to “build customizable credit card solutions that help businesses streamline expenses, access capital and boost operational efficiency.”

Marqeta’s credit card platform gives ITS control “over the customer experience, supported by a unified, modern tech stack and program management capabilities, enabling them to develop credit solutions tailored to individual business needs.”

Rick Kumpf, CEO of ITS, said:

“ITS is redefining how we manage corporate travel expenses, and with Marqeta’s highly configurable credit card platform, we can go beyond conventional offerings to meet the specific needs of our corporate clients. Building our T&E credit card on Marqeta’s platform gives us access to a full suite of credit card capabilities and the flexibility and control to develop, launch, and scale branded credit solutions that seamlessly integrate into our digital experience.”

ITS is an innovator in travel and expense management. Its corporate card program solutions, EasyCard, aim to “enable businesses to fulfill the diverse payment service needs of their employees, spanning across all roles and functions.”

With Marqeta, ITS has access “to real-time card issuing, live transaction data, and spend controls that allow them to create dynamic credit card offerings and rewards. Additionally, Marqeta allows ITS the flexibility and extensibility to launch on a payments platform that can support and grow their products as they expand over time.”

Marqeta’s 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 more than 40 countries globally.”



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