By Dhirendra Tripathi

Investing.com – Marqeta stock (NASDAQ:) jumped 5% Thursday as the company’s third-quarter sales and earnings came in well ahead of estimates, driven by a surge in volumes processed.

Total processing volume for the company was $27.6B in September, an increase of 60% thanks to both digital banking as well as buy-now/pay-later business growth. TPV is the sum of all payments made through the platform. This includes returns and chargebacks.

Although net revenue rose to $132 millions, it was slightly offset by an increase in revenue share. The company offered more incentives for customers to use its platform to make higher processing volumes.

Marqeta’s modern card issuing platform allows its customers to create customized payment cards and is behind BNPL brands like Affirm (NASDAQ:) and Klarna. The company also added Figure and Bill.com as partners in the fourth quarter.

For decades, the BNPL option was the most popular credit card company option. However, most fintech BNPLs charge no interest. Instead they earn their income on the difference in what they charge the merchant and the amount they receive from buyers.

Due to investments in technology and stock-based salaries, the net loss tripled to $45.7

For the next quarter, net revenue will be between $137 and $139 million. This is an increase of 55% over last year. This should allow the company to close out the year with around $4998.5 million in revenue.