We’re excited to announce a new partnership with Figure to power the launch of the Figure Pay product, an all-in-one digital money app.
Figure Pay is built on the Provenance Blockchain payments infrastructure, which allows for faster payments and cuts down on merchant costs. It offers its users a fee-free deposit account, seamless money transfer to friends and family, and also has native Buy Now, Pay Later functionality built in.
Our just-in-time functionality will allow Figure to manage its own transaction authorizations, providing Figure Pay users the flexibility to opt between debit and point-of-sale lending. We’ve seen a surge in the use of Buy Now, Pay Later payments, and our open APIs help payments innovators like Figure Pay build out flexible and modern payment experiences. Figure Pay is also committed to financial inclusion and allowing underbanked users to access financing and build credit history, a mission that we’re proud to support.
“We had a very specific vision for Figure Pay, building a new payments tool, where people could have end-to-end management of their money and the ability to have complete flexibility at the point of sale about how to finance a purchase,” said Tony Morosini, Head of Banking and Payments at Figure. “Marqeta’s modern technology was integral to making this happen and they were true partners, working with us every step of the way to help us build a product that matched our vision.”
We’re excited about this partnership and to work closely with Figure Pay and their team.