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Stock impact report

Marqeta agrees to buy e-money institution TransactPay [Yahoo! Finance]

Marqeta, Inc. - Class A (MQ) 
Company Research Source: Yahoo! Finance
Financial terms of the deal remain undisclosed. TransactPay is licenced as an E-Money Institution (EMI) and authorised to issue e-money and undertake payment services across the UK and European Economic Area. Set up in 2012, it has presence in 25 countries, supports 16 currencies, and holds principal membership with both Mastercard and Visa. Marqeta customers can now access full card programme management capabilities in the UK and EU. This includes customer and production support, as well as banking, network, and regulatory relationships to scale card programmes in the region. With certification to operate in over 40 countries, Marqeta simplifies the launch process in new markets. Wilson Sonsini Goodrich & Rosati served as legal counsel to Marqeta during this transaction. Marqeta SVP managing director, Europe and UK CEO Marcin Glogowski said: “Marqeta's business has seen tremendous growth in Europe, and we're excited to bring the strength and talent of TransactPay withi Show less Read more
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