ADYYF - Payment tech company Marqeta set to begin trading tomorrow

SB/iStock via Getty Images Cue the latest fintech to hit the public markets. Marqeta, the technology plaform for card issuers, is slated to begin trading tomorrow on the Nasdaq under ticker symbol "[[MQ]]." Two other payments-related companies - Flywire (FLYW) and Paymentus (PAY) - soared in their IPOs last week, while some other fintech listings are coming up like commission-free brokerage Robinhood (RBNHD). What does Marqeta do? Most of its business comes from interchange fees - the cost a merchant pays whenever a customer uses a card to make a purchase - as well as offering APIs that let that let companies build out virtual and physical card programs. Marqeta mostly targets high-growth tech companies as its clients, like Square (SQ), Affirm (AFRM), Uber (UBER) and DoorDash (DASH). That differentiates it from established players like Global Payments (GPN) and Fiserv (FISV), which cater to banks and traditional credit card companies,

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Payment tech company Marqeta set to begin trading tomorrow