Our new credit card issuing platform was developed to help the world’s innovators launch cutting-edge credit products in an industry dominated by traditional players. This move into credit rounds out our comprehensive card issuing platform, allowing us to power any card type – credit, debit, and prepaid – through our modern card issuing platform.
A wave of innovation in payments has shifted consumer expectations of their credit cards, opening the door for companies to reinvent the credit experience. With our credit product, we set out to provide an alternative to the current technological barriers companies face when launching a new credit program; one that helps to modernize the space and provide consumers with the credit features they want.
Our API-driven credit card issuing platform enables our customers to launch new, customized credit card products in a fraction of the time, with more flexible controls and features. Companies will have a modern credit system of record that can adjust account parameters such as rewards, APR, and credit lines in real time based on custom rules. Additionally, they can ditch the spreadsheets and instead access a centralized dashboard to configure credit products.
Through an ecosystem of partners, our credit card issuing platform will offer program management services such as underwriting, compliance, and risk management. Our first strategic partner, Deserve, a U.S.-based digital-first card solution, will help provide highly configurable credit program management services to our users.
“The credit market is dominated by legacy technologies, high cost of operations, and lack of customization and speed. Marqeta’s leading card-issuing platform paired with Deserve’s digital card expertise will enable further innovation in the credit industry and provide consumers with superior card experiences,” says Kalpesh Kapadia, Deserve co-founder and CEO. “We’re excited to launch this partnership and help bring this disruptive credit solution to market.”
We’re thrilled to release our new credit card issuing product and look forward to seeing the new innovation it helps enable in the credit space. Learn more about our credit offering here: www.marqeta.com/platform/credit.