Marqeta will be providing JPMorgan Chase its virtual card technology that will allow new Chase commercial card customers to use their card immediately instead of waiting to receive a physical card in the mail; as soon as they are approved Chase commercial customers will be able to use their virtual credit card in wallets such as Apple Pay and Samsung Pay; Marqeta provides similar technology to DoorDash and Instacart which issue virtual cards to delivery workers and they also power the virtual debit card for Square Cash; John Skinner, head of commercial cards at JPMorgan, told CNBC, “This is another way of getting virtual company cards into the hands of those who need them very quickly. We know there’s a need for this product — what Covid has taught us is that there’s more use cases for this than we imagined.” CNBC.
Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.