Marqeta Inc (NASDAQ:MQ) shares are trading higher after the company announced a new partnership with Citi Commercial Cards to facilitate the provisioning of cards into mobile wallets.
"This offering will give our corporate clients a convenient way to instantly provision a card into their mobile wallet of choice to pay seamlessly and securely on the go. Marqeta's tokenization services will be implemented globally in over 40 markets," said Gonca Latif-Schmitt, Global Head of Citi Commercial Cards.
"We're committed to supporting new use cases and work tirelessly to ensure our corporate clients and their employees around the world can take advantage of the latest payments technologies to help their businesses succeed," Latif-Schmitt stated.
Marqeta reports fourth-quarter earnings during Wednesday's after-hours session.
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Marqeta provides its clients with a card issuing platform that offers the infrastructure and tools necessary to offer digital, physical and tokenized payment options without the need for a traditional bank.
Marqeta has a 52-week high of $37.90 and a 52-week low of $8.40.
