Marqeta Introduces New Credit Card Platform, Helping Brands Redefine Customer Loyalty With Dynamic and Embedded Credit Experiences
Marqeta’s suite of enhanced credit capabilities looks to open up a new paradigm of innovation in credit cards, giving brands control to launch commercial or consumer credit cards that are seamlessly integrated into their own digital experience, with rewards that can be tailored to cardholders.
Marqeta’s expanded credit offering cements the platform as a complete solution for embedded finance, able to support any card type and any format, all from the same platform. It will allow customers to build credit card products that are innovative, personalized and designed to boost cardholder engagement, unburdening customers from the need to work with cumbersome legacy technology or patch together solutions across vendors.
“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. We believe this launch can help reimagine what a credit card can be, and show that beautifully designed, embedded credit cards can help innovative brands engage with customers in a whole new way,” said
Own the full customer experience of your card: When a brand looks to launch a credit card today, current limitations force them to deliver cardholders to the banks website to access card information and limit their ability to engage with their customers on their own terms.
Marqetaenables brands to own the entire experience by embedding a credit card into their own digital experience, allowing them to increase overall customer engagement with their product. According to Marqeta’s 2023 State of Credit Report, 55% of consumers surveyed held the brand responsible for customer service of a co-branded card, showing that brands are taking risks in outsourcing card management to a third-party bank.
Build a card that promotes customer loyalty through personalized rewards: Marqeta’s credit card platform allows customers to redefine how they build customer loyalty.
Marqetaresearch showed that 44% of consumers surveyed felt that rewards are the main factor in deciding which credit card is top of wallet for them. The company’s next-generation personalized rewards engine will help its customers build reward programs that adapt to cardholder preference, or for commercial cards, help customers reinvest back in the business with customized rewards categories.
Harness real-time data and flexible funding models to build cards that better meet cardholder needs: Through
Marqeta, customers can tailor card products to closely match customer needs. They can access real-time data to gain cardholder insights and help them tailor their products, set spend controls that determine how a card can be used, and easily generate cards for new users that can be issued instantly. Customers building commercial card programs can choose from a range of flexible funding models for their cardholders, such as Net 30 Charge Cards, Receivables Purchase, and Revolving Credit, to allow them to take control of their business’ financial health and access capital more easily.
Enhanced credit card capabilities built upon a decade-plus long legacy of innovation
Marqeta’s enhanced credit features are a result of the completed integration with Power Finance, which
Learn more about Marqeta’s enhanced credit platform
For more information about product and feature specifications of Marqeta’s enhanced new credit platform, visit here.
Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards. Marqeta’s platform, powered by open APIs, gives its customers the ability to build more configurable and flexible payment experiences, accelerating product development and democratizing access to card issuing technology. Its modern architecture provides instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorize and settle transactions.
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions, including credit card issuing; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services, including credit card issuing; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; the effect of and uncertainties related to the