October 23, 2023 | 2 min read
Introducing Marqeta's new Credit Card Platform
We’re thrilled to announce our new credit card platform, helping brands redefine customer loyalty with dynamic embedded credit experiences. Our 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.
Our end-to-end credit card platform will allow brands to create a new standard for credit cards that encourages greater customer loyalty with personalized rewards, completely owning the experience for their customers. Our expanded credit offering cements our platform as a complete solution for embedded finance, able to support any card type and any format, all from the same platform.
How Marqeta customers will benefit from enhanced credit capabilities
With our credit card platform, our customers won’t have to build credit cards with black box legacy infrastructure or from a patchwork of different solutions. Instead, through one single, modern tech stack that has been proven at scale, they can build out a credit product closely tailored to the needs of consumer and commercial cardholders and embed the experiences directly inside their existing web and mobile apps. Our new credit platform is targeted primarily at fintechs and non-financial services companies, offering them the following benefits:
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. We enable 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.
Build a card that promotes customer loyalty through personalized rewards: Our credit card platform allows customers to redefine how they build customer loyalty. Our recent State of Credit Report 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 platform’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 a card that can be built to cardholder needs: Through our new platform, companies 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's financial health and access capital more easily.
Learn more about our Credit Card platform and its capabilities today.