Mobile wallets have taken off amid the coronavirus pandemic as a touch-free way to pay.
Marqeta, the card-issuing platform, is opening up its digital tokenization tech to anyone, broadening the scope of companies that can use Marqeta to issue digital cards.
Marqeta powers delivery apps like DoorDash and Instacart, as well as peer-to-peer payments platforms like Square’s Cash App.
Both Square and JPMorgan are already using Marqeta’s tokenization-as-a-service platform.
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Contactless payments have taken off amid the coronavirus pandemic, with consumers seeking out touch-free ways to pay. One of the world’s most valuable fintechs is targeting that trend, looking to help companies distribute digital cards even if they aren’t current customers.
Marqeta, the card-issuing startup last valued at $4.3 billion, announced Tuesday it is now offering its digital card issuance tech to anyone. Described as “tokenization-as-a-service,” any company that wants to be able to