Twisto, a Prague based Fintech, is the first company to launch a new programme using this service.
Marqeta, the first global modern card issuing platform, is now a European-certified processor with Mastercard. This new collaboration is designed to help digital banks and fintechs get to market and scale more easily. Twisto, an innovative daily payments app linked to a card, will be the first European customer to deploy Marqeta's card processing capabilities with Mastercard.
Through this partnership with Marqeta, Mastercard's European customers will now have the opportunity to work with the Marqeta platform that has already significantly disrupted the US payments market, where it would qualify as a top-25 card issuer if consolidated into a single program. Marqeta has a proven track record helping leading companies at the intersection of finance and technology such as Square, Doordash and Affirm bring new innovations to market that succeed at scale. It provides instant access to a sandbox and fully published API documentation via its website, which empowers customers to more easily test and build in new innovations. Mastercard offers payment solutions for businesses, retailers, governments and consumers across Europe and the world.
Twisto will now benefit from this solution, giving it a fast, transparent and hassle-free way to issue cards. Additionally, the offering gives Twisto access to actionable, real-time transaction data that will help them further optimise business decision making.
"We're pleased to be able to partner with one of the defining names in global payments to empower fintech players such as Twisto to get to market faster and easier. With Marqeta now able to process Mastercard card payments, more fintechs across Europe will have the agility and flexibility to provide innovative digital banking services," said Ian Johnson, Head of Europe at Marqeta.
Jason Lane, Executive Vice President, Market Development Europe at Mastercard added: "By partnering with an innovative global payment platform like Marqeta, we can help Mastercard issuers build card products even faster, while also retaining complete control over the end to end process. Marqeta brings a transparent, innovative and easy to use payment processing platform to the table, which made it an easy decision to partner with them."
"Our recent launch of the Twisto app and card offering in Poland has been very well received by customers, with over 70,000 sign ups and over 20,000 cards ordered in the first 30 days from launch. We are very pleased with the speed of execution through this launch, and strategic partners like Mastercard and Marqeta have been fundamental to enabling the success of the technology. We look forward to exploring expansion opportunities across the EU on the back of this solution," said Michal Smida, Founder/CEO at Twisto.
Marqeta is the leading global modern card issuing platform, providing the most advanced infrastructure and tools for building highly configurable payment cards. With its open API, the Marqeta platform is designed for innovators who want a simplified way of managing payment programs so that they can create world-class experiences and power new modes of commerce. Marqeta is headquartered in Oakland, California. For more information, visit www.marqeta.com, Twitter and LinkedIn.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities such as shopping, traveling, running a business and managing finances easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
More about Twisto
Since 2013 Twisto was used by over 600,000 customers in Czech and Poland, expanding to Romania. The Money App, connected to Mastercard and ApplePay, allows customers to pay for their online purchases with just one click, deal with bills and invoices by taking a photo of them within the app, and pay just about anywhere else with the card or a special NFC payment bracelet. On top of that, the app comes with the best FX rate for international payments, travel insurance, PFM and smart notifications. Twisto automatically aggregates all payments into a neat monthly statement and customers can pay them at once or over time. Find out more at www.twistopay.com.
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