This episode was recorded at the Money 20/20 event in 2019. On this episode, PaymentsJournal’s editor-in-chief, Ryan McEndarfer, sat down with Vidya Peters, chief marketing officer at Marqeta.

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PaymentsJournal:

Vidya, thank you so much for joining me on today’s episode.
Could you give us a little bit of an overview of Marqeta to set the stage for
our audience here?

Vidya Peters:

Absolutely. It’s a pleasure to be here, so thank you for
having me on your podcast series. Marqeta is the first modern card issuing
platform. We have improved how physical and virtual payment cards are developed
and deployed. Our platform was built from the ground up as the first open API,
fully modern, fully documented processing platform with no legacy
infrastructure. So, if you think about your favorite services that you’re using
today, whether that’s ordering food, applying for a loan, or using digital
banking services on a mobile app, chances are Marqeta data is powering that
experience for you on the back end.

PaymentsJournal:

Excellent. Thank you very much for that overview there. Now,
obviously the payments industry has seen tremendous evolution that’s been
ongoing for the past couple of years. Let’s narrow it down to the last 12
months. What have you been seeing on your end that has you excited within the
payments industry?

Vidya Peters:

Yeah, it’s a very exciting time to be in the payments space, because what we’re realizing is that there is no part of this really large and complex market that is safe from disruption. It used to be that this space was entrenched with old legacy technologies, and they were pretty protected from anyone entering the new market. The barriers to entry have dropped significantly. What we’re finding now is that it’s no longer about the big eating the small; it’s really about the fast eating the slow. The reason that’s happening is that customers are demanding very new experiences. They’re expecting everything to be digital, to be connected, and they’re expecting to be served in very new ways. We’ve seen the rise of the on demand economy and of digital banking. And we’re seeing almost every experience, whether it’s lending, financing, ecommerce, etc., become more digital each year. Behind every one of those digital experiences,