AMEX, Marqeta, Visa, PayPal Among Giants Announcing Fintech Products and Partnerships Last Week
What's happening
Marqeta announced multiple partnerships and product moves: it and Coinbase launched a collaboration to let Marqeta enterprise customers offer stablecoin-backed cards powered by Coinbase, and Marqeta has taken over processing for Block/Square's Square Credit Card, consolidating Square's debit, prepaid and credit programs onto Marqeta's issuer platform and the American Express Network. Square said the migration will let it bring new credit features to market faster. A roundup also noted other fintech giants including AMEX, Visa and PayPal announced products and partnerships last week.
Why it's trending
Several large firms revealed closely timed card- and payments-focused tie-ups that push crypto rails and issuer consolidation into practical merchant products now.
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Story volume
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If you think crypto cards are still niche, Marqeta just made them a mainstream issuer problem for banks and brands.
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Original sources6
- Marqeta takes over Square Credit Card processing
Marqeta, a modern card issuing platform, has taken over processing of the Square Credit Card, Block’s business credit product for Square sellers, which operates on the American Express Network. The move brings Square’s debit, prepaid and credit card programmes onto a single issuer processor, aiming to simplify operations and accelerate the rollout of new financial […] The post Marqeta takes
FinTech GlobalOct 20 - AMEX, Marqeta, Visa, PayPal Among Giants Announcing Fintech Products and Partnerships Last WeekCrowdfund InsiderOct 20
- Square Shifts Business Credit Cards to Marqeta Platform to Speed Credit Innovation
Square has consolidated its credit and debit programs on Marqeta’s card issuing platform, saying this will enable the company to bring new credit features to market more quickly. With this move, Square migrated its Square Credit Card to Marqeta, which already enables Square’s debit and prepaid programs, the companies said in a Monday (Oct. 19) press release. Square Credit Card is Square’s business
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