Marqeta, a leader in modern card issuing and embedded finance solutions, has launched its latest innovation, Marqeta Flex.
This cutting-edge solution transforms how Buy Now, Pay Later (BNPL) payment options are incorporated within payment apps and wallets, making them readily available at crucial moments within the existing payment processes.
Developed in collaboration with prominent BNPL providers Klarna and Affirm, along with the payments platform Branch, Marqeta Flex is set to revolutionize access to BNPL services for a broader user base. Specifically, Branch aims to implement this solution within its app catering to W-2 and 1099 workers, providing tailored BNPL loan options that meet the unique needs of its users.
Marqeta’s CEO, Simon Khalaf, said, “Marqeta Flex is about building upon the transformational impact that Buy Now, Pay Later has had over the last decade, and helping consumers access these options intuitively from inside an even greater range of payment experiences.
“We are excited to partner with industry-leading BNPL players Klarna and Affirm in the space to give consumers more choice in how they pay for every transaction they want to make.”
The introduction of Marqeta Flex is part of Marqeta’s broader strategy to support and expand the reach of BNPL solutions, which have seen explosive growth and adoption worldwide. The service not only broadens the distribution of BNPL but also personalizes the shopping experience, allowing users to select their preferred BNPL solutions at the point of need. As a connector of major BNPL providers and card issuers, Marqeta is well-positioned to facilitate this expanded distribution, enhancing payment functionalities and consumer choice.
Marqeta Flex promises significant benefits across the board. For consumers, it means more tailored BNPL options within their most-used payment applications. Payment providers will see expanded BNPL distribution channels, leading to greater consumer access and higher transaction volumes. For card issuers and digital wallets, Marqeta Flex offers a robust solution that drives payment volume by embedding diverse BNPL offerings into their transaction processes. This integration enables them to quickly develop and deploy flexible payment solutions tailored to user preferences.
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