March 5, 2020 | 2 min read
Afterpay selects Marqeta as its U.S. payments partner
Marqeta is very excited to announce that Afterpay is partnering with us to help accelerate its impressive U.S. growth and new product innovation. Marqeta’s modern card issuing and processing platform has helped many innovators across multiple vertical markets grow, and we are ready to help Afterpay advance.
Afterpay is a leader in the “Buy Now, Pay Later” (BNPL) payments sector empowering consumers to pay for the merchandise they want now in four easy payments using a credit line with no fees or interests. With nearly 80% of users accessing the app on their mobile phone during the 2019 shopping season, Afterpay is tapping into the zeitgeist of both millennials and Gen Z who prefer mobile and are learning to love buying now and paying later.
Afterpay will use Marqeta’s global modern card issuing and processing platform to advance its existing services for its seven million consumers and 43,000 merchants worldwide. This partnership is live in the United States, with an intention to work together on additional international markets using Marqeta’s global platform capabilities.
Marqeta built its technology from the ground up to help companies like Afterpay bring great products to market faster, design seamless user experiences, streamline purchase flows, and reduce fraud risk. We are the global standard for modern card issuing. Our platform, open API, and advanced analytics provide unprecedented control for companies to issue cards, authorize transactions, and manage payment operations with ease.
To learn more about the partnership, read the press release.