February 27, 2023 | 5 min read
Marqeta Release Highlights – Q1 2023
Renee Schafman, Marqeta Product Marketing
February 27, 2022 • 3 min read
Welcome to Marqeta Release Highlights! The Marqeta product team brings numerous innovations to market month after month. In this quarterly series, we highlight a few so you can get a quick look into some of our newest offerings.
As winter swirls outside wherever you are, we encourage you to grab a warm beverage and read more about these exciting enhancements from our product team.
Digital Wallets and Tokenization: With our newly launched web push provisioning product, card programs can instantly issue and provision virtual cards from a web browser directly to Apple Pay® and Google Pay™ digital wallets.
Web push provisioning enables card programs to reduce friction at the point-of-sale and enable their users to pay directly from their mobile wallets without requiring them to download a mobile application. This feature is particularly compelling for brands that are interested in digital wallets and tokenization, but don’t have a mobile application.
To learn more, check out our resources here:
3D Secure: 3DS makes e-commerce more secure by requiring cardholders to complete an additional verification step with the card issuer at the time of payment on certain commerce transactions. 3DS is commonplace in Europe. In the US, more and more merchants are requesting 3DS authentication.
Recently, the product team has made an enhancement to the 3DS offering, allowing the webhook to provide more visibility around 3DS authentications for analysis and reporting purposes. New features include the ability to identify which merchants are requesting 3DS authentication most frequently, see which authentications are working best, and connect 3DS data to disputes.
Marqeta offers a fully customizable 3DS solution to help customers securely authenticate cardholders and reduce online fraud while helping customers meet regulatory requirements.
To learn more, check out our resources here:
Level 2/Level 3 Data: L2/L3 is enhanced transaction data that provides customers with more detailed information about purchases. In response to customer demand, this release enables customers to have all the data elements (L1, L2, L3) via a webhook (push) or DiVA API functionality coming shortly.
L2/L3 data can help programs enhance customer experience or can be used to manage & audit spend on cards.
Credit Delinquency: Marqeta customers can now calculate the past due balance on an account separately from statements and in real time. Additionally, this feature enables tracking of when payments are made and if payments are returned.
This enhancement will improve customer’s collection portal and more clearly inform customer support reps on the amounts to collect from delinquent account holders. It will also help fulfill customer credit reporting needs and manage risk by controlling account holder activity (such as suspend account on Day 1 delinquency, terminate account on Day 60 delinquency, charge off account on Day 180 delinquency).
To learn more, check out our resources here:
Speaking of credit, Marqeta recently made its first acquisition, Power Financial. This acquisition will allow Marqeta to add credit card program management capabilities to our card issuing platform and offer customers a more seamless credit program management solution. We are excited about this news and look forward to the coming expansion of our credit card capabilities.
Thank you for taking the time to learn more about what we’re up to here at Marqeta. If you want to dig deeper or speak to an expert, reach out to your Customer Success Rep or follow the below links:
