Trading 212 Launches Debit Card in 20 European Countries

Trading 212 partners with Marqeta to launch zero-fee debit cards across 20 European countries, offering cashback rewards.

Key Points:

• Debit Card Launch: Trading 212 expands its debit card to 20 European countries with zero FX fees and 0.5% cashback.
• Service Diversification: The platform shifts focus to stockbroking and payments, partnering with Marqeta for enhanced security.

United Kingdom-based retail trading platform Trading 212 has partnered with global card-issuing platform Marqeta to roll out its debit card across 20 continental European countries. This move also came a year after the company introduced the card to its UK customers.

The European launch, announced on Wednesday, positions Trading 212 as a key player in providing a seamless and cost-effective payment solution. Furthermore, the new card offers zero foreign exchange (FX) fees, no account fees, and a 0.5% cashback on all purchases, catering to a growing customer base of retail investors.

Trading 212 Launches Debit Card in 20 European Countries

“We’re aiming to make the stock market more accessible, giving over 3 million customers in the UK and Europe access to investment opportunities that were not easily accessible before,” said Mukid Chowdhury, CEO of Trading 212. “The Trading 212 card, powered by Marqeta, is an extension of our brand and helps keep Trading 212 at the forefront of our customers’ daily spending.”

Marqeta’s platform allows Trading 212 to expedite the deployment of its debit cards, enabling a faster go-to-market strategy. Additionally, Marqeta provides fraud prevention features, such as Real-Time decision-making powered by artificial intelligence, to identify high-risk transactions and protect customers. Enhanced security measures, including 3D Secure, ensure users can verify their identities for safe payments.

“With our scalable platform, Marqeta enables innovative brands like Trading 212 to reduce time to market and capitalize on strong demand for stock trading,” said Marcin Glogowski, SVP and Managing Director, Europe, and UK CEO at Marqeta.

Diversifying Services and Revenue

Trading 212, founded in Bulgaria in 2004 as Avus Capital, shifted its headquarters to the UK in 2013. While it has traditionally focused on contracts for differences (CFDs), the platform is now expanding its services to include stockbroking and payment solutions, diversifying its revenue streams.

The company operates through three entities: one in the UK and two in Cyprus and Bulgaria. This strategic expansion into payments signals Trading 212‘s intent to cater to a broader customer base and enhance its financial ecosystem.

Additionally, the platform secured a crypto license in Cyprus last year, though it has not yet revealed concrete plans in the cryptocurrency space. Trading 212 re-entered the German market after acquiring local CFD broker FXFlat, further strengthening its presence in Europe.

A Step Towards the Future

With the European launch of its debit card, Trading 212 continues to redefine its role in the financial services industry. The partnership with Marqeta also underscores its commitment to innovation and customer-centric solutions, setting the stage for its next growth phase in the UK and EU markets.

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