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Ingo Payments, a provider of account funding, transfer, and payout solutions, has chosen Marqeta Inc. to be the issuer processor for Ingo’s enhanced embedded-banking platform. The deal will help Ingo Payments provide its customers a scalable technology stack to develop financial products and bring them to market quickly, the company says.
The partnership will also allow Marqeta to bring remote check cashing and deposit capabilities to its customers to make banking services more convenient.
An Ingo Money Inc. brand, Ingo Payments develops embedded-payments solutions, such as digital disbursements and instant account funding. Ingo Payments’ platform supports account funding, transfers, mobile deposits, payouts, digital wallets, account and card issuing, personal finance management, and rewards solutions. The platform also works with the iFrame-supported embedded banking solution, which enables merchants to integrate a payment flow directly into their platform without redirecting users to a separate banking Web site.
Ingo Money provides checking technology and operates the Ingo Money App, which allows users to cash checks and receive money through their bank account, prepaid card, or PayPal account.
Since acquiring Deposits Inc.’s banking technology in 2024, Ingo Payments has focused on enhancing its money-movement platform to support embedded banking capabilities for existing and new clients. Ingo’s target audience is enterprise businesses, such as corporations, seeking to retain funds for payouts or rewards, as well as banks looking to offer digital-first account solutions, and fintechs aiming to quickly scale innovative financial products.
Marqeta can support those goals, Ingo Payments says. “Marqeta’s modern capabilities and commitment to ongoing innovation make them an ideal partner as we create new opportunities to monetize accounts and deliver ecosystem-driven financial experiences,” Ingo’s chief executive Drew Edwards says in a statement.
