Ingo Payments selects Marqeta as its issuer processing partner

This partnership highlights Ingo’s mission to deliver innovative instant account issuing and ecosystem-driven financial services for its clients. Following its acquisition of Deposits Inc.’s banking technology, Ingo has been improving its money movement platform to support embedded banking capabilities for both existing and new clients. By selecting Marqeta, Ingo aims to upgrade the financial experience for banks, finetchs, and businesses.

Improved embedded banking

Ingo supports financial institutions to offer modern experiences through its embedded banking platform. Its bank-grade money stack is built with embedded compliance and risk management and enables simple account funding, transfers, mobile deposits, payouts, digital wallets, rewards solutions, and more, across a wide range of industries and use cases. With a vertically integrated platform, Ingo aims to enable its clients to minimise third-party risk, reduce operational complexity, and lower costs.

Ingo Payments’ approach to account issuing upgrades traditional solutions by creating ecosystems that incentivise users to store, move and spend money, unlocking opportunities to monetise accounts. This approach applies to enterprises looking to retain funds for payouts or rewards, banks looking to modernise beyond legacy systems with digital solutions, and fintech seeking to scale financial products quickly. Ingo selected Marqeta for its scalable technology stack that helps its customers develop modern financial solutions and minimise time to market.

As Ingo launches its embedded banking platform, Marqeta’s capabilities make them a reliable partner in creating new opportunities to monetise accounts and deliver ecosystem-driven financial experiences. Marqeta mentioned that, besides serving as Ingo’s issue provider, the company also aims to bring remote check cashing and deposit capabilities to its customers to make banking services more convenient. With its all-in-one platform, it enables Ingo to create optimised issuing solutions, offering more value for customers and businesses.