Marqeta has expanded its account and money movement portfolio into 30 additional European countries through a collaboration with Banking Circle.
The expansion enables businesses operating across Europe to combine virtual accounts and multi-rail payment capabilities with card programmes, supporting more tailored financial product offerings.
According to the official press release, the collaboration with Banking Circle aims to broaden geographic reach and deepen the range of account and money movement tools available through Marqeta's platform.
Platform capabilities and regulatory alignment
Marqeta's European offering is structured around a single platform covering card issuing, payment accounts, money movement, and programme management. The platform is built to meet regional regulatory requirements, including PSD2 and GDPR, and includes card fulfilment, fraud management, dispute resolution, BIN sponsorship, and reporting and reconciliation services.
Key payment infrastructure integrations include access to the UK's faster payments system, enabling near real-time domestic money movement, as well as SEPA Credit transfers, which move funds across more than 40 SEPA member countries and territories within one to two days, and SEPA Instant, which operates on a 24/7/365 basis and settles transactions in under ten seconds. Virtual account functionality supports multiple currencies and can be embedded within existing product offerings, subject to applicable safeguarding requirements.
Strategic positioning in a fragmented market
For businesses seeking to launch or scale card programmes across European markets, navigating the region's regulatory and banking infrastructure has historically posed operational complexity. Through the process of consolidating card issuing, account functionality, and programme management into a single platform (and extending reach through Banking Circle's licensing) Marqeta is positioning itself as an end-to-end infrastructure provider for companies with cross-border ambitions in Europe.
Mikkel Gronlykke, President of Banking Circle, noted that combining account functionality and money movement capabilities with a card issuing platform provides businesses with a foundation for building financial products suited to the demands of cross-border operations.
The expansion reflects broader industry momentum around Embedded Finance and the integration of payment accounts with card infrastructure, a trend gaining traction among fintechs and non-financial businesses seeking to deepen customer engagement through financial product offerings.
