Marqeta Announces New SMB Credit Card Customer AffiniPay, Delivering A Flexible and Customized Credit Offering with Full Program Management Capabilities

Marqeta will power AffiniPay’s LawPay Visa SMB credit card embedded within its MyCase platform, the first comprehensive solution in the industry that helps law firms pay, track and manage firm and client expenses.

Marqeta (NASDAQ: MQ), the global modern card issuing platform enabling some of the world’s most innovative embedded finance solutions, today announced a partnership with AffiniPay, the leader in online payments and software solutions for professionals. Marqeta will power the upcoming launch of MyCase Smart Spend, a spend management solution powered by a LawPay Visa SMB revolving credit card embedded directly within the MyCase platform that helps firms streamline their expenses and better manage their finances.

Like many small businesses, law firms and legal professionals are bogged down by manual expense tracking and lose valuable time–and money–reconciling their finances each month. The launch of MyCase Smart Spend makes MyCase a comprehensive solution in the legal industry that offers a single destination for firm operations and spend management from start to finish. AffiniPay selected Marqeta because of its trusted platform for building card programs at scale that are dynamic, flexible and tailored to customer needs. By partnering with Marqeta, MyCase Smart Spend users will have a comprehensive, easy to use platform that gives them access to real-time card issuing, transaction data, and spend controls for their credit card offering. This helps cardholders stay on top of business expenses and access capital more easily, all from a single dashboard.

“Marqeta fully understands the complexity of building new card programs that are tailored to the specific needs of legal professionals,” said Bryan Thompson, Chief Technology Officer of AffiniPay. “We sought a partner that could help us deliver on our promise of giving our customers better insights into their finances and improving efficiency. We’re looking forward to working with Marqeta to bring this product to market and continuing to deliver innovative solutions in credit.”

Marqeta commercial credit customers can choose from a range of flexible funding models for their cardholders, such as Net 30 Charge Cards, Receivables Purchase, and Revolving Credit, to allow them to take control of their business’ financial health and access capital more easily. With Marqeta’s expertise in payments and program management capabilities, Marqeta handles all the intricacies of establishing new card programs, including helping customers meet applicable regulatory and compliance requirements. With Marqeta’s platform, customers can easily spin up cards for new users, deliver personalized rewards, and free up more working capital to stay on top of business expenses.

“With our fully integrated embedded credit offering, we’re proud to enable forward-thinking companies like AffiniPay to deliver branded business credit cards that help them retain customers and drive loyalty,” said Todd Pollak, Chief Revenue Officer. “We offer highly flexible but finely tuned controls, giving customers greater control over their card program and ultimately have a more cohesive view of their finances. The end result is that law firms can reconcile receipts and expenses from disparate systems instead of relying on time-consuming paper-based processes. This solution will help small businesses streamline their client management processes and provide innovative controls to manage costs – resulting in more time to focus on their cases instead of the business overhead.”

About Marqeta (NASDAQ: MQ)

Marqeta’s embedded finance and 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. For more information, visit www.marqeta.com, Twitter and LinkedIn.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions and those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta's most recent Annual Report on Form 10-K, as such risk factors may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

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“With our fully integrated embedded credit offering, we’re proud to enable forward-thinking companies like AffiniPay to deliver branded business credit cards that help them retain customers and drive loyalty,” said Todd Pollak, Chief Revenue Officer.