Marqeta, Inc. — Form 10-Q
Filed August 4, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 42/100
What the filing says
Amendment 28 to Marqeta's Master Services Agreement with Block, Inc. (effective June 25, 2026) governs three items: (1) migration of Block's Square Card cardholder accounts and BINs from an unnamed platform to Marqeta by a redacted deadline, with Marqeta absorbing costs if deadline met but retaining cost-recovery rights if delayed by non-Marqeta factors; (2) support for non-English language card programs (Spanish Square Card since 2019, plus future translations) with Block bearing translation costs and responsibility; (3) implementation of redacted 'Secure Data Sharing' functionality for Cash App with a 2-year initial term and automatic renewal. All specific fees, dates, technical details, and financial amounts are redacted [***].
Why this rating
Block is Marqeta's largest customer but amendment terms are mostly operational/technical. BIN migration expands Square Card revenue capture but exact scope and financial impact redacted. No new customer or material revenue dollar amounts disclosed.
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