Marqeta Partners with Banking Circle for European Expansion

Card-issuing platform Marqeta has announced a collaboration with Banking Circle aimed at broadening its European footprint. The partnership will enable the company to deliver its account and money movement capabilities across 30 additional countries in the region.

The expanded offering gives European businesses access to embedded virtual accounts and multi-rail payment functionality, designed to help them build more tailored customer experiences and drive deeper engagement through their card programmes.

Interim Chief Product Officer Anthony Peculic emphasised the strategic importance of the European market for the company's future.

Europe represents one of our most important growth markets, and bringing these tools to multinational and regional businesses enables them to build the innovative payment experiences that are crucial to their success. By providing a single platform for card issuing, account and money movement, and program management, we're enabling our customers to launch and scale the card programs their customers rely on with greater simplicity, flexibility and efficiency.

The expansion follows substantial growth for Marqeta in the region. The company reported an eight-fold increase in total processing volume for its European card programmes between 2022 and 2025.

That momentum was reinforced by the acquisition of TransactPay last year, which strengthened the company's programme management capabilities in the market.

Earlier this month, Marqeta disclosed first-quarter results showing total processing volume climbed 33% year over year to reach $112 billion.

Lending and buy-now-pay-later activity ranked among the fastest-growing segments for the platform during the period, underscoring demand for flexible payment solutions.

Recent PYMNTS Intelligence research conducted with Marqeta found that FinTechs are increasingly integrating embedded finance features into their offerings. The widespread uptake reflects confidence in the model but also introduces new operational and compliance challenges as capabilities scale.

Key findings from the study include:

• Nearly 9 in 10 FinTechs deploy embedded finance to enhance customer experiences
• 60% report it strengthens user trust
• More than half have seen reduced churn or higher revenues
• A similar share cite improved operational efficiency

The research noted that embedded payments frequently serve as an entry point for broader financial relationships, encompassing lending, payouts, and digital wallets. In this capacity, embedded finance can stabilise customer relationships by supporting continued spending and credit access within familiar digital environments.