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 products for small businesses.
The consolidation is designed to help Square streamline its card infrastructure and introduce new credit features more quickly. Marqeta’s portfolio migration technology enabled existing accounts and card credentials to transfer to the platform without requiring cardholders to change how they use their cards.
The agreement builds on a relationship dating back to 2019, when the companies launched the Square Card, a business debit card that gives small business owners immediate, fee-free access to their earnings. The Square Credit Card provides sellers with a credit line that can grow alongside their business activity.
Research from Marqeta’s 2026 State of Credit report points to demand for credit products that adapt as businesses develop. Among the small and medium-sized businesses surveyed, 96% said they deliberately choose which payment method to use for each transaction. A further 34% had switched credit products as their business changed, while 64% wanted a clear path from basic to more advanced offerings.
Marqeta’s commercial credit platform combines card issuance and transaction processing with underwriting, rewards, risk controls and dispute management through a single integration. Its capabilities include detailed spending controls, flexible account structures and real-time decisions informed by more than 300 data attributes.
The company also offers programme management services covering bank and network relationships, compliance reporting, customer service and collections. This can reduce the number of providers clients need to manage and help accelerate product launches.
The addition of American Express to the Square programme further demonstrates the platform’s network reach. Marqeta supports consumer and commercial debit and credit products, processed nearly $400bn in annual payment volume in 2025 and is certified in more than 40 countries.
Block operates as a financial services platform rather than an FDIC-insured bank. Sutton Bank issues the Square Debit Card under a Mastercard licence, while Celtic Bank issues Square Credit Cards under a licence from American Express.
Block head of product for Square Banking Andrea Raj said, “Square sellers depend on both credit and debit to run their businesses, and consolidating those programs onto Marqeta’s platform means we can move faster and safer on the products they need. Migrating our existing cardholders without any disruption to their experience was critical, and Marqeta delivered. This is a reflection of the strong partnership we’ve built together over the years.”
Marqeta chief revenue officer Todd Pollak added, “Block is one of our deepest and most expansive partnerships, and the work we’re doing together goes well beyond any single program. This launch is a strong example of what that partnership enables, bringing Square’s full card portfolio onto one platform so they can build and iterate on credit products for small businesses faster than ever before.”
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