Marqeta and Expensify extend card issuing partnership to Europe

Marqeta said it has expanded its collaboration with Expensify into the UK and European Union, enabling the spend management software company to offer corporate cards to businesses across the region. The arrangement broadens Expensify’s card-based expense tools beyond its existing US customer base and gives Marqeta, listed on Nasdaq under the ticker MQ, a wider role in European corporate payments.

Expensify has used Marqeta’s card issuing infrastructure and multinational capabilities to support the rollout, the companies said. The product is aimed at businesses seeking more automated ways to manage employee and departmental spending, including payments linked to travel, vendor purchases and team budgets.

Corporate card programmes of this kind depend on an issuing platform that can create and manage cards, apply rules to transactions and connect payment activity with expense records. Marqeta’s platform allows Expensify to issue physical cards, virtual cards and tokenized cards, according to the companies. Tokenized cards replace sensitive card credentials with digital tokens, a common method used to support payments through wallets or other digital channels.

Expensify can tailor cards for different use cases, the companies said. A card may be configured for travel, a one-off supplier payment or a specific department. Spend limits and other controls can be set at cardholder level, while transactions can be authorised in real time. That structure is intended to give businesses more control over how money is spent before the transaction is completed, rather than relying only on reimbursement checks after the fact.

The companies also said the platform will provide richer spending data, giving customers more visibility over cash flow and budget allocation across teams. For finance departments, that data can be used to monitor patterns in employee spending and align expenses with internal policies.

Daniel Vidal, chief strategy officer at Expensify, said European companies are looking for expense management tools that are automated and designed to reduce time and cost. He said the expanded partnership with Marqeta allows Expensify to bring its corporate card capabilities to businesses of different sizes across the region.

Todd Pollak, chief revenue officer at Marqeta, said the expansion reflects Marqeta’s focus on supporting expense management products with configurable controls. He said Marqeta’s multinational issuing capabilities are designed to help customers enter new markets, expand card programmes and reduce the operational complexity associated with international growth.

The announcement places the partnership in a part of payments where software providers are combining card issuing, policy controls and expense reporting into a single service. For Expensify, the European rollout adds another channel for its spend management platform. For Marqeta, it demonstrates continued use of its issuing infrastructure by software companies building card products for business customers.

This story draws on original reporting from Finextra Research.