Businesses looking for more streamlined financial management tools now have a new option as Marqeta has partnered with Spendesk Financial Services (SFS) to become its issuer processor in Europe. This agreement enables SFS to integrate Marqeta’s card-processing capabilities into its banking infrastructure, broadening its reach among small and medium-sized businesses (SMBs). The collaboration is set to support over 4,000 SMBs, providing them with access to virtual and physical cards designed to simplify expense management. As demand for digital payment solutions continues to grow, financial service providers are exploring new ways to enhance financial control for companies of various sizes.
Previous reports on Marqeta’s expansion into different markets have highlighted similar strategic moves. The company has formed partnerships with various fintech firms to enhance digital payment solutions, particularly in the U.S. and Australia. These collaborations have often focused on integrating open API platforms to support scalable financial services, aligning with Marqeta’s latest agreement with Spendesk. However, this expansion into European SMB financing demonstrates a specific focus on addressing regional business needs, particularly in the growing spend management sector.
How Does the Partnership Benefit Business Expense Management?
SFS will leverage Marqeta’s open API platform to equip businesses with enhanced spend management functionalities, including real-time expense approvals. The availability of both virtual and physical cards aims to give companies better oversight of their financial activities. By utilizing Marqeta’s technology, Spendesk expects to enhance its ability to provide businesses with greater visibility and control over their expenditures.
“Expense management and procurement solutions are vital for medium-sized businesses looking to increase financial control, achieve consistent growth, and improve cash flow,” said Stephane Dehaies, CEO of Spendesk Financial Services.
What Role Do Virtual Cards Play in This Expansion?
Virtual cards have become an increasingly popular financial tool for businesses seeking greater flexibility in managing transactions. Industry research indicates that 56% of middle-market companies using virtual cards have reported improvements in working capital management. Despite their benefits, adoption remains low, with only 3.3% of North American Growth Corporates utilizing virtual cards. Marqeta’s collaboration with Spendesk is positioned to capitalize on this gap by offering a structured solution tailored to SMBs.
“Marqeta’s platform makes it simple for employees to make safe, policy-friendly purchases while keeping spending aligned with company goals,” said Marcin Glogowski, Marqeta’s senior vice president and managing director for Europe and U.K. CEO.
By embedding Marqeta’s technology within its platform, Spendesk aims to provide SMBs with more control over expenditure while ensuring security and compliance. The integration will enable automated spending approvals and policy enforcement, reducing administrative burden on finance teams. With increased reliance on digital financial tools, these features may help businesses manage operational costs more effectively.
The collaboration between Marqeta and Spendesk highlights ongoing efforts to modernize corporate payment processes. While virtual cards offer flexibility and fraud prevention advantages, adoption levels remain relatively low in many markets. By catering to SMBs, this partnership addresses a segment that may benefit from structured financial controls. Businesses considering digital expense solutions should assess how integrated platforms like Spendesk, powered by Marqeta, can streamline their financial operations.
