We're excited to work with Extend, demonstrating how our platform helps serve retailers that are seeking more seamlessly integrated payments and finance solutions to help drive customer loyalty and deliver an impeccable experience.
Extend, a leader in technology-enabled product protection, partners with Marqeta to deliver product replacements via a virtual card, issued instantaneously after a claim is approved. The solution covers products lost, damaged or stolen during shipment or a product that was accidentally damaged or stopped working.
"Our virtual card solution with Marqeta has allowed us to completely automate issue resolution with our merchants and their consumers,” said Rohan Shah, Co-Founder and Chief Revenue Officer, Extend. “Now, when consumers come to our chat bot Kaley to file a claim, they can expect a virtual card issued instantly for the replacement cost of the original product. Even better, this card is sent to their inbox in a matter of minutes once approved. Our technology enables us to process 98% of customer claims within 90 seconds and our merchants love it because we send the customer back to their website to re-purchase their products."
