[throwawayfinal]

my theory is that their main asset wasn't their consumers, or even that data, but their ability to be a card processor and issuer (like the big banks). I don't think there's very many of them, and the effort required to build that is very time consuming and expensive.

[maxerickson]

The footer of their pages says their cards are issued by First Bank & Trust, Brookings SD.

[throwawayfinal]

They have the ability to issue tokenized numbers, that's something that not everyone can do.

TBH, I'm not deeply involved in payments, but what they're doing is extremely unique and I could totally appreciate a larger company (such as a paypal competitor like stripe) wanting a piece of what they're doing.

[mbesto]

Marqeta does this: https://www.marqeta.com/

[binar3]

wondering if the buyer will unwrap a turd and void their check