Marqeta Reports Fourth Quarter and Full Year 2023 Financial Results streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
The global modern card issuing platform had $62 billion in fourth quarter total processing volume, up 33 percent year-over-year, and generated $119 million in fourth quarter net revenue.
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Marqeta, Inc. , the global modern card issuing platform, today reported financial results for the fourth quarter and full year ended December 31, 2023.
Total processing volume (TPV) was $62 billion for the quarter, representing a 33% year-over-year.
RBI says under an arrangement, an intermediary accepts card payments from corporates for their commercial payments and then remits the funds via IMPS/RTGS/NEFT to non-card accepting recipients
This comes on the back of a recent instruction from the RBI asking these companies to halt usage of these payment instruments for business payments made to vendors, suppliers and other such entities. Following this directive, card networks have informed payment companies to stop these services to their clients.