Marqeta Releases New API-Driven Credit Card Issuing Platform
- 19.02.2021 07:15 am
Marqeta has developed a new credit card issuing platform to help the world’s innovators launch cutting-edge credit products in an industry dominated by traditional players. This move into credit rounds out Marqeta’s comprehensive card issuing platform, which allows them to power any card type – credit, debit, and prepaid – through Marqeta’s modern card issuing platform.
A wave of innovation in payments has shifted consumer expectations of their credit cards, opening the door for companies to reinvent the credit experience. With API-driven credit card, we set out to provide an alternative to the current technological barriers companies face when launching a new credit program; one that helps to modernize the space and provide consumers with the credit features they want.
API-driven credit card issuing platform enables customers to launch new, customized credit card products in a fraction of the time, with more flexible controls and features. Companies will have a modern credit system of record that can adjust account parameters such as rewards, APR, and credit lines in real time based on custom rules. Additionally, they can ditch the spreadsheets and instead access a centralized dashboard to configure credit products.
Through an ecosystem of partners, the credit card issuing platform will offer program management services such as underwriting, compliance, and risk management. Marqeta’s first strategic partner, Deserve, a U.S.-based digital-first card solution, will help provide highly configurable credit program management services to their users.
“The credit market is dominated by legacy technologies, high cost of operations, and lack of customization and speed. Marqeta’s leading card-issuing platform paired with Deserve’s digital card expertise will enable further innovation in the credit industry and provide consumers with superior card experiences,” says Kalpesh Kapadia, Deserve co-founder and CEO. “We’re excited to launch this partnership and help bring this disruptive credit solution to market.”
Marqeta excited to release their new credit card issuing product and look forward to seeing the new innovation it helps enable in the credit space. Learn more about credit offering here: www.marqeta.com/platform/credit.