Marqeta Integrates Mastercard's Virtual Card Solution, Track™ Instant Pay

Marqeta, the global modern card issuing platform, announced that it has integrated Mastercard Track™ Instant Pay, a next-generation virtual card solution that uses machine learning and straight-through processing to enable instant payment of supplier invoices. 

With Track Instant Pay, Marqeta's customers in the U.S. will be able to immediately authorize payment to suppliers after invoices are received instead of waiting for invoices to be approved manually, freeing up time to focus on growing their businesses instead of administrative tasks. This payment process empowers its customers to pay invoices more efficiently and access cost savings by avoiding costly check processing fees.

"Marqeta and Mastercard share a vision of modernizing and streamlining payments - enabling our joint customers to thrive thanks to more flexible and innovative solutions," said Simon Khalaf, Chief Product Officer, Marqeta.  "Many of our customers face headaches when it comes to managing supplier payments, and this integration with Mastercard's Track Instant Pay solution will help streamline and accelerate payments on their invoices, letting them get back to what they're best at - driving their businesses forward."

"Mastercard is focused on modernizing payments around the world and delivering a seamless digital experience – unlocking new opportunities for businesses to get paid how they want to get paid," said Marie Elizabeth Aloisi, executive vice president, Commercial Solutions at Mastercard. "With the integration of Mastercard Track Instant Pay, we are proud to enhance our relationship with Marqeta to deliver robust virtual card solutions to our joint customers."