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Oct. 27, 2021, 9:51 a.m. EDT

Marqeta stock rockets after company lands Bill.com partnership

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By Emily Bary

Marqeta Inc. /zigman2/quotes/227203754/composite MQ -1.96% said Wednesday that it has struck a new partnership with Bill.com Holdings Inc. /zigman2/quotes/215406166/composite BILL +0.42% through which Marqeta will provide card-issuing technology that can be used by Bill.com’s financial-institution partners. Marqeta’s technology will “power new innovative commercial card products for Bill.com’s financial institution customers,” the company said in a release. Marqeta offers application programming interfaces that make it easier for companies to build out card programs, while Bill.com seeks to help small- and medium-sized businesses automate accounts payable and other business functions. The partnership will help Bill.com customers “streamline payments and process payments faster,” Marqeta Chief Executive Jason Gardner said in a release. Bill.com Chief Executive René Lacerte added that the offering will give clients “enhanced financial operations capabilities, enabling faster and easier payment offerings.” Marqeta shares are up 13.3% in morning trading Wednesday, and they’ve gained 36.8% over the past three months as the S&P 500 has risen 4.0%.

US : U.S.: Nasdaq
$ 22.05
-0.44 -1.96%
Volume: 2.95M
Nov. 26, 2021 1:00p
P/E Ratio
Dividend Yield
Market Cap
$12.15 billion
Rev. per Employee
$ 300.00
+1.24 +0.42%
Volume: 1.16M
Nov. 26, 2021 1:10p
P/E Ratio
Dividend Yield
Market Cap
$30.64 billion
Rev. per Employee

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