Despite some moderation in specific customer programs, Marqeta said lending and BNPL remain among its fastest-growing businesses. Enterprise momentum accelerated as Marqeta said the average size of new deals signed during the quarter increased more than 90% year over year, reflecting a shift toward larger embedded finance programs. CEO Mike Milotich said customers want a single platform spanning card issuing, money movement, embedded banking capabilities and fraud decisioning rather than stitching together multiple provider. Although that will slow reported growth, Milotich argued Marqeta retained the more strategic part of the business. Because Marqeta supports debit, credit, commercial products and multinational issuing from a single technology stack, he argued the company can offer a broader portfolio than competitors focused on individual products.