Companies have found there’s “almost nothing more engaging than a card,” CEO Mike Milotich said this week in an interview.

Marqeta is attracting business from large companies that want to issue payment cards and other embedded services to deepen engagement with their customers, the fintech’s chief executive said in an interview this week.

Fortune 500 enterprises have recognized the power of card products due to the success and growth of fintechs’ services, CEO Mike Milotich said Wednesday in an interview, a day after the company reported third-quarter financial results and raised its profit outlook for 2026.

From the leader of a company that issues virtual and physical payments cards, his perspective is to be expected.

“People are realizing … that there’s almost nothing more engaging than a card product,” Milotich said. “A lot of these businesses are looking for engagement, they’re looking to drive their core business through a card product, getting you in their app, using their system, (and) their platform more.”

That trend directly benefits Marqeta, an Oakland, California-based fintech that also provides embedded finance services, including payment processing.

The average consumer uses a payment card 2.5 times each day, Milotich said, without providing details. “Besides maybe younger people checking their Instagram or something, there are very few things that people do that frequently,” he quipped.

A large company already has a significant customer base, which makes it easier “to insert a financial product” into its existing platforms, he said.

Marqeta enjoys “a long runway for growth” as the company “has barely scratched the surface (<1%) in a large addressable market of card-based money movement” totaling about $30 trillion, KBW analysts wrote Tuesday in a client note.

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