Marqeta stock gains after company lands Bill.com partnership

Marqeta Inc. MQ, +15.30% said Wednesday that it has struck a caller concern with Bill.com Holdings Inc. BILL, +2.63% done which Marqeta volition supply card-issuing exertion that tin beryllium utilized by Bill.com’s financial-institution partners. Marqeta’s exertion volition “power caller innovative commercialized paper products for Bill.com’s fiscal instauration customers,” the institution said successful a release. Marqeta offers exertion programming interfaces that marque it easier for companies to physique retired paper programs, portion Bill.com seeks to assistance small- and medium-sized businesses automate accounts payable and different concern functions. The concern volition assistance Bill.com customers “streamline payments and process payments faster,” Marqeta Chief Executive Jason Gardner said successful a release. Bill.com Chief Executive René Lacerte added that the offering volition springiness clients “enhanced fiscal operations capabilities, enabling faster and easier outgo offerings.” Marqeta shares are up 13.3% successful greeting trading Wednesday, and they’ve gained 36.8% implicit the past 3 months arsenic the S&P 500 has risen 4.0%.