• Marqeta, a global card issuing platform, has partnered with Plaid, a diversified FinTech infrastructure provider, to simplify Automated Clearing House (ACH) transfers. 

• The partnership enables Marqeta’s cardholders to authenticate bank accounts and initiate ACH transactions for transfers between both customer accounts and external accounts to power immediate spending. Further, Marqeta’s APIs enable users to track transfer status with real-time notifications and also simplify initiation, cancellations, and returns of payments across accounts.

• Marqeta’s customers will not have to store sensitive bank account information, as they will only handle tokens, while Plaid and Marqeta deal with the sensitive information.

Analyst QuickTake: Marqeta has utilized partnerships to expand its platform capabilities in the past. For instance, the company has partnered with Mastercard since 2014, and, in October 2020, they expanded their partnership to expedite Marqeta’s international expansion, launch additional card programs, and introduce new products.