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Stock impact report

Marqeta, Rippling join Canada's small business banking battle [Yahoo! Finance]

Marqeta, Inc. - Class A (MQ) 
Company Research Source: Yahoo! Finance
banks, two Bay Area firms sense an opportunity to sell corporate financial products north of the border. Rippling — a San Francisco-based workforce management platform that provides HR, IT and financing to small and medium-sized businesses — has launched a Marqeta-issued commercial credit card in Canada that allows companies to automate card issuance, expense management and spending controls. Rippling and the Oakland, California-based Marqeta are responding to an expansion in contactless payments for consumers and businesses in Canada and an environment that suggests banks' business clients are interested in switching financial service providers. About 10% of business owners in Canada switched banks between 2019 and 2022, according to a 2023 report from the Canadian Federation of Independent Businesses , which added that Canadian businesses do not feel the service they receive from Canadian banks is "up to the standards they expect." That has attracted U.S. banks such as JPMorga Show less Read more
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