FinTech: Marqeta’s New Credit Card Platform Allows Its Customers To Build Innovative Card Products

October 23, 2023 | FinTech, News

“Brands wanted to reach customers on a laptop, and then their pocket, and now they have the opportunity to be in their wallet, as the credit card becomes a new launchpad of the digital experience.” – Simon Khalaf, CEO of Marqeta

Marqeta (NYSE: MQ) has unveiled its new credit card platform, aiming to revolutionize credit card innovation and customer loyalty. This platform offers brands the ability to seamlessly integrate commercial or consumer credit cards into their digital experiences while tailoring rewards to cardholders. Marqeta, known for its global card issuing platform, now provides intuitive credit card program management tools, offering a comprehensive solution for launching consumer and commercial credit programs. The goal is to boost customer loyalty by allowing brands to personalize the credit card experience end-to-end.

Marqeta’s expanded credit offerings make it a versatile embedded finance solution that supports various card types and formats within a single platform. It eliminates the need for brands to rely on outdated legacy technology or multiple vendors to create innovative, personalized credit card products that engage cardholders effectively.

The CEO of Marqeta, Simon Khalaf, envisions credit cards as a new digital launchpad, transforming the consumer experience and brand loyalty equation. Marqeta customers can enjoy enhanced credit capabilities without the complexities of legacy infrastructure. They can build credit products that cater to the specific needs of consumers and commercial cardholders and embed them directly into web and mobile apps, all through a modern tech stack.

This platform primarily targets fintechs and non-financial services companies, offering benefits such as owning the entire customer experience, promoting customer loyalty through personalized rewards, and harnessing real-time data and flexible funding models to meet cardholder needs.

Marqeta’s enhanced credit features result from the integration with Power Finance, acquired in January 2023. This solidifies Marqeta’s position as a leading end-to-end card issuing and processing solution for both commercial and consumer card programs, continuing its legacy of innovation in the industry.

Related Story:  Marqeta And Italy’s Scalapay Join To Boost BNPL Use In Europe

Image by world_wide_web from Pixabay

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