Marqeta extends Cash App contract with Block through June 2027 with revised pricing

Marqeta, Inc.

Cash App program term extended to June 30, 2027, effective July 1, 2023.
Block will manage primary card network relationship for Cash App, including brand choice and financial terms.
Pricing reduced; Marqeta will receive payment for Card Brand and Issuing Bank fees from Block.
Upon a change of control, Marqeta must continue services for at least 24 months after closing.
Block has been a stockholder and warrant holder of Marqeta since 2021.

item 9.01 item 1.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Marqeta, Inc. amended the Amendment with Block, Inc. (formerly Square, Inc., or "Block") (effective 2023-08-04).

Action: amendment
Counterparty: Block, Inc. (formerly Square, Inc., or "Block")
Effective: 2023-08-04

Exact text from the filing

On August 4, 2023 , the Company executed a contract amendment (“the Amendment”) to its Master Services Agreement with Block, Inc. (formerly Square, Inc., or “Block”).

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Marqeta, Inc. filing history →

Source: SEC EDGAR

accession 0001522540-23-000027

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