Marqeta to provide payments processing for Capital on Tap

Business funding provider Capital on Tap has announced that it is partnering with Marqeta, a global card issuing platform, to power payment processing for its small business credit card, currently used by over 60,000 UK enterprises.

As part of this agreement, all of Capital on Tap’s users will be provided with a Marqeta-powered card. Since its launch in 2012, Capital on Tap has competed with the offering of major banks, by aiming to offer small businesses a faster and more transparent way to fund their business. Capital on Tap has already provided close to £1 billion in funding to more than 60,000 small businesses across the UK.

Marqeta’s European Digital Banking solution supports instantly issued virtual cards and offers spend controls. Marqeta’s platform and its APIs are configurable and scalable, which is designed to let its partners access actionable, real-time transaction data to drive programme improvements.