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Payment Solutions

Buy Now, Pay Later financing

Grow your merchant relationships quickly and enable borrowers to pay for purchases within minutes of approval.

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The Problem

For Buy Now, Pay Later lenders, merchant onboarding and scaling poses significant challenges. It’s time-consuming to cultivate technology relationships and complete integrations. Lenders are looking for faster and easier ways to onboard new merchants, and more flexible ways to provide their customers a better user experience.

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The solution

Lending solutions based on modern virtual cards work seamlessly with customers’ mobile wallets and merchants’ POS systems to fund purchases in real time.

Real world: Buy Now, Pay Later financing

Shoppers apply for and receive financing at checkout

POS lender app

Application submitted

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Your customer applies for a loan to make an on-the-spot purchase.

Marqeta platform

Card issued

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A prefunded virtual card is issued for that specific purchase.

Retail store

Card presented

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The store runs the virtual card just as they would any other Visa or Mastercard.

Marqeta platform

Spend evaluated

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Managed or gateway spend controls can be customized for the exact merchant and the start/end date of the installment loan to minimize fraud.

Retail store

Auth requested

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Marqeta’s platform is contacted by the appropriate network for authorization.

POS lender app

Notification received

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Marqeta webhooks allow real-time notifications upon transaction completion.

Marqeta platform

Funds released

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Just-in-Time (JIT) Funding releases funds to the card on approval and in real-time to complete the transaction.

Retail store

Transaction completed

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Authorization is successful and the payment is confirmed.

POS lender app

Application submitted

svg-pos-application-submittedsvg-pos-application-submittedsvg-pos-application-submitted

Your customer applies for a loan to make an on-the-spot purchase.

Marqeta platform

Card issued

online-travel-card-flow2online-travel-card-flow2online-travel-card-flow2

A prefunded virtual card is issued for that specific purchase.

Retail store

Card presented

svg-pos-card-presentedsvg-pos-card-presentedsvg-pos-card-presented

The store runs the virtual card just as they would any other Visa or Mastercard.

Marqeta platform

Spend evaluated

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Managed or gateway spend controls can be customized for the exact merchant and the start/end date of the installment loan to minimize fraud.

Retail store

Auth requested

svg-odd-auth-requestedsvg-odd-auth-requestedsvg-odd-auth-requested

Marqeta’s platform is contacted by the appropriate network for authorization.

POS lender app

Notification received

Online-retail-notificationOnline-retail-notificationOnline-retail-notification

Marqeta webhooks allow real-time notifications upon transaction completion.

Marqeta platform

Funds released

svg-retail-funds-releasedsvg-retail-funds-releasedsvg-retail-funds-released

Just-in-Time (JIT) Funding releases funds to the card on approval and in real-time to complete the transaction.

Retail store

Transaction completed

Circle-check-Copy2Circle-check-Copy2Circle-check-Copy2

Authorization is successful and the payment is confirmed.

Afterpay looked at the field of providers out there and really liked Marqeta from a technology reputation and its ability to deliver innovation. We focus on how we use Marqeta’s capabilities to speed up access into merchants. We connect directly to most of our merchants. Through Marqeta, Afterpay will be able to more easily integrate into those merchants.

AfterpayAfterpayAfterpay

Kareem Al-Bassam,

CPO

Key benefits for Buy Now, Pay Later financing

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Instant issuance of virtual cards

Fund a prepaid virtual card for the exact amount and pay within seconds of the borrower’s approval, in-store or online.

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Machine-to-machine transactions

Start payment cycles without the need to integrate beforehand with a merchant’s POS system wherever Visa/Mastercard is accepted.

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Dynamic spend controls

Limit transaction approvals to a specific merchant or time using controls such as a date or a start and end time.

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JIT (Just-in-Time) Funding

Ensure that funds are spent for a one-time transaction or an installment payment of an approved loan.

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Inject metadata into each transaction record

Streamline the reconciliation of transaction records with the lender’s general ledger (GL) and loan management system (LMS).

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Data insights

Get insights into customer spend and offer targeted funding options and grow loyalty.

Marqeta Cards

Launch your next payment innovation

Let's talk about your use case and how we can help.