Marqeta expands European payments reach with Banking Circle
Wed, 27th May 2026 (Today)
Marqeta has expanded its account and money movement offering into 30 additional European countries through its partnership with Banking Circle, extending its payments reach across the region.
The expanded portfolio includes embedded virtual accounts, multi-currency support and payment services linked to card programmes for businesses operating across Europe. The arrangement is intended to help companies launch and manage card products while meeting local regulatory requirements.
The announcement comes during a period of growth for the payments technology group in Europe. Total processing volume for its European card programmes grew eightfold between 2022 and 2025.
Marqeta's position in the region also strengthened after its acquisition of TransactPay, which added programme management functions and responsibility for bank, network and regulatory relationships for European customers. The deal also enables support for licensed e-money services for multi-currency virtual accounts and international payments across consumer and commercial card programmes.
Its European offering now spans card issuing, payment accounts, money movement and programme management. Businesses can use the services whether they already operate in Europe or are looking to expand across the market.
The portfolio includes virtual accounts and digital wallet functions linked to a debit card, with support for multiple currencies and embedded fund storage, subject to safeguarding requirements. It also offers faster payments connectivity for UK transactions, allowing companies to process payments in seconds, alongside SEPA Credit and SEPA Instant services for transfers across more than 40 SEPA member countries and territories.
Under the SEPA framework, standard transfers can take one to two days, while instant transfers are processed in under 10 seconds. These tools are designed for businesses that need to move funds across borders while keeping card and account functions in a single setup.
Regional push
Europe has become a bigger focus for payments groups pursuing cross-border growth, particularly as businesses seek providers that combine card issuing with account and transfer services. Marqeta is positioning itself to meet that demand with a single platform that covers several parts of the payments chain.
The partnership with Banking Circle is central to that strategy. Banking Circle, a Luxembourg-licensed bank regulated by the Commission de Surveillance du Secteur Financier, said the combined setup supports businesses in holding, spending and moving funds within a regulated European banking framework.
"Europe represents one of our most important growth markets and bringing these tools to multinational and regional businesses enables them to build the innovative payment experiences that are crucial to their success," Anthony Peculic, Interim Chief Product Officer at Marqeta, said.
"By providing a single platform for card issuing, account and money movement, and program management, we're enabling our customers to launch and scale the card programs their customers rely on with greater simplicity, flexibility, and efficiency."
Banking tie-up
Banking Circle said the arrangement combines account services and money movement with card issuing for businesses in Europe. The bank has focused on payment infrastructure for companies that need to move funds internationally.
"Banking Circle's mission has always been to make global payments faster, simpler and more accessible for businesses," Mikkel Gronlykke, President of Banking Circle, said.
"Our relationship with Marqeta combines full account functionality and money movement capabilities with a proven card issuing platform, giving businesses in Europe a powerful foundation for building financial products that simplify how money moves."
Alongside issuing and accounts, Marqeta's regional programme management services include card fulfilment, fraud management, dispute resolution, BIN sponsorship, reporting and reconciliations. The company processed nearly USD $400 billion in annual payment volume in 2025 and is certified to operate in more than 40 countries worldwide.