Who are Marqeta's competitors?
Marqeta's FY2025 10-K, filed February 24, 2026, names seven competitors in card issuing and processing, in three groups: providers with legacy technology platforms, FIS and Fiserv; modern API-based providers, Galileo, i2c and Visa DPS; and emerging providers, Adyen and Stripe. The legacy processors are far larger businesses: FIS reported revenue of $10,677 million for 2025 and Fiserv $21.2 billion. Visa, owner of Visa DPS, processed 329 billion payments and cash transactions in fiscal 2025. Among the emerging rivals, Adyen processed €803.8 billion in the first half of 2026 and businesses on Stripe generated $1.9 trillion in total volume in 2025. Marqeta itself processed $383 billion in 2025, up 31%, and $120 billion in Q2 2026, up 32%. The 10-K also says Marqeta earns significant net revenue from a small number of customers, led by Block. On AI, every rival has a product on the record: Marqeta added an AI-powered risk score to Real-Time Decisioning on March 31, 2026; FIS made its AML Investigations Agent, built with support from Anthropic, commercially available on October 15, 2026; Fiserv launched agentOS on May 14, 2026; Visa announced a Large Transaction Model in June 2026; Adyen Uplift ran at more than 6,500 businesses in its first year; and Stripe's Payments Foundation Model raised card-testing detection for large businesses by 64%.[1][2][3][4][5][6][7][8][9][10][11][12][13][14]
Data as of Nov 2, 2026 · Marqeta profile updated Oct 15, 2026 · 18 sources cited on this page · 56 fintechs profiled on this site · Markdown
What does Marqeta's 10-K say about its competition?
"We face competition along several dimensions, including providers with legacy technology platforms, such as Fidelity National Information Services (FIS) and Fiserv; modern API-based providers, such as Galileo, i2c, and Visa DPS; and emerging providers, such as Adyen and Stripe." (Form 10-K for 2025, Item 1A, filed February 24, 2026.)[1]
"We believe that the principal competitive factors in our market include: pricing; multiple program types (debit, prepaid, credit); multinational reach; complete solutions at scale; flexibility and configurability; reliability; compliance solutions; program management; brand recognition and reputation; and industry expertise and customer service."[1]
The 10-K adds that many competitors have "greater brand name recognition, longer operating histories, larger sales and marketing budgets and resources" and may respond more quickly to new technologies, and that Marqeta generates "significant net revenue from a small number of customers, including our largest customer, Block".[1]
Who are Marqeta's main competitors, line by line?
One row per competitor named in Marqeta's FY2025 10-K. Scale figures are each company's whole business, from its own filing or release, for the period shown; most are far broader than card issuing. A dash means no sourced figure was found.
| Competitor | Where they compete | Dated scale figure | How they compare on AI | Sources |
|---|---|---|---|---|
| FIS | Card issuer processing; a 'legacy technology platform' in Marqeta's 10-K | Revenue of $10,677 million in 2025 | AML Investigations Agent, built with support from Anthropic, commercially available from October 15, 2026 | Marqeta 10-K; FIS 10-K; FIS[1][2][10] |
| Fiserv | Card issuer processing; a 'legacy technology platform' in Marqeta's 10-K | Total revenue of $21.2 billion in 2025 | Launched agentOS, an agentic AI operating system for banks, on May 14, 2026, with OpenAI and Amazon Web Services as key collaborators | Marqeta 10-K; Fiserv 10-K; Fiserv[1][3][11] |
| Galileo | Modern API-based issuer processing | — | — | Marqeta 10-K[1] |
| i2c | Modern API-based issuer processing | — | — | Marqeta 10-K[1] |
| Visa DPS | Modern API-based issuer processing, run by Visa | Visa processed 329 billion payments and cash transactions in fiscal 2025 | Visa announced a Large Transaction Model, trained on billions of transactions to improve fraud detection while raising authorization performance, on June 10, 2026 | Marqeta 10-K; Visa 10-K; Visa[1][4][12] |
| Adyen | An 'emerging provider' in Marqeta's 10-K | Processed volume of €803.8 billion, up 24%, and net revenue of €1,302.9 million in H1 2026 | Adyen Uplift, its AI payment-optimisation suite, ran at more than 6,500 businesses in its first year, with false positives down 42% on average | Marqeta 10-K; Adyen[1][5][13] |
| Stripe | An 'emerging provider' in Marqeta's 10-K | $1.9 trillion in total volume on Stripe in 2025, up 34% | Payments Foundation Model, trained on tens of billions of transactions, raised detection of card-testing attacks on large businesses by 64% (May 2025) | Marqeta 10-K; Stripe[1][6][14] |
What companies are similar to Marqeta?
Galileo and i2c: the two independent "modern API-based providers" Marqeta's 10-K names alongside Visa DPS as its API-based issuer-processing rivals.[1]
Adyen: a payments platform that processed €803.8 billion in the first half of 2026 and that Marqeta's 10-K counts among its emerging competitors.[5][1]
Stripe: a payments company whose businesses generated $1.9 trillion in total volume in 2025, named by Marqeta as an emerging competitor.[6][1]
FIS: a financial technology company with $10,677 million of revenue in 2025, one of the two legacy issuer-processing platforms Marqeta names.[2][1]
Fiserv: a payments and financial technology provider with $21.2 billion of revenue in 2025, the other legacy platform in Marqeta's list.[3][1]
What does the Marqeta profile record on this topic?
The rows below are the entries of the Marqeta AI strategy profile that bear on this page, as of Oct 15, 2026; the profile holds the full record of 11 dated moves, 6 use cases and 12 sources.
| Date | Move | Detail | Source |
|---|---|---|---|
| Aug 6, 2026 | Google Wallet allowance product for kids on Marqeta | Marqeta's tokenisation and real-time spend controls let parents set daily limits and lock balances for supervised under-18 users paying with Android and Wear OS devices. | [15] |
| Sep 8, 2025 | Mike Milotich appointed CEO | Interim CEO since February 2025 and CFO since 2022, Milotich becomes permanent CEO and joins the board, per Form 8-K. | [16] |
| Aug 6, 2025 | TransactPay acquisition completed | Marqeta buys the UK/EEA e-money institution to own card programme management in Europe, where TPV more than doubled year on year. | [17] |
| Jan 22, 2025 | Trading 212 uses AI-powered Real-Time Decisioning across Europe | Marqeta powers Trading 212's launch in 20 continental European countries; the broker uses Marqeta's RTD, 'powered by AI', to flag high-risk transactions and notify users. | [18] |
Who are Marqeta's biggest competitors?
Marqeta's FY2025 10-K names seven: FIS and Fiserv, which it calls providers with legacy technology platforms; Galileo, i2c and Visa DPS, which it calls modern API-based providers; and Adyen and Stripe, which it calls emerging providers. FIS and Fiserv reported revenue of $10,677 million and $21.2 billion for 2025.
What companies are similar to Marqeta?
The closest are the modern API-based card issuing processors Marqeta itself names, Galileo and i2c, plus Visa's DPS. Payments platforms Adyen and Stripe compete as emerging providers, and the large processors FIS and Fiserv as legacy platforms. Each is named in Marqeta's FY2025 Form 10-K, filed February 24, 2026.
How big is Marqeta compared with its competitors?
Marqeta processed $383 billion in 2025, up 31%, and $120 billion in Q2 2026. Its rivals report on other bases: Visa processed 329 billion payments and cash transactions in fiscal 2025, Stripe businesses generated $1.9 trillion in total volume in 2025, and Adyen processed €803.8 billion in the first half of 2026.
Who is Marqeta's largest customer?
Block. Marqeta's FY2025 10-K says it generates significant net revenue from a small number of customers, including its largest customer, Block, and that losing any of these relationships or a decline in their net revenue, including through renewals on less favorable terms, could hurt its results.
How do Marqeta's competitors use AI?
FIS made an AML Investigations Agent, built with support from Anthropic, commercially available on October 15, 2026; Fiserv launched agentOS on May 14, 2026; Visa announced a Large Transaction Model in June 2026; Adyen Uplift reached more than 6,500 businesses; and Stripe's Payments Foundation Model raised card-testing detection by 64%. Marqeta added an AI risk score in March 2026.
- Marqeta, Inc. Annual Report on Form 10-K for fiscal 2025
- Fidelity National Information Services, Inc. Form 10-K for the fiscal year ended December 31, 2025
- Fiserv, Inc. Form 10-K for the fiscal year ended December 31, 2025
- Visa Inc. Form 10-K for the fiscal year ended September 30, 2025
- Adyen publishes H1 2026 financial results
- Stripe's 2025 annual letter
- Marqeta Reports Fourth Quarter and Full Year 2025 Financial Results
- Marqeta Reports Second Quarter 2026 Financial Results (Exhibit 99.1 to Form 8-K)
- Marqeta Delivers AI-Driven Risk Decisioning to Enhance Real-Time Fraud Prevention (Business Wire via Yahoo Finance)
- FIS AML Investigations Agent Now Commercially Available to Help Banks Tackle the Scale and Cost of Financial Crime Compliance
- Fiserv Launches agentOS: The Operating System for Agentic AI in Banking
- Visa Announces New AI, Stablecoin and Token Innovations to Power Intelligent, Programmable Commerce at Visa Payments Forum
- Adyen launches Personalize inside Adyen Uplift
- Stripe Sessions 2025: Payments Foundation Model and new products
- Marqeta Expands Collaboration with Google to Launch New Offering in Wallet for Kids (Business Wire via Yahoo Finance)
- Form 8-K: Appointment of Mike Milotich as Chief Executive Officer
- Marqeta Announces Completion of TransactPay Acquisition (Business Wire via Yahoo Finance)
- Marqeta Powers Trading 212's Expansion into Continental Europe
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