Klarna Companions with Marqeta to Launch its New Card

• Marqeta introduced a collaboration with fellow Finovate alum Klarna to energy the corporate’s new cost card.
• The brand new card will allow Klarna clients to make use of the corporate’s Pay in 4 cost choice in bodily shops.
• This week’s partnership builds upon a relationship the 2 firms have loved since 2018.

A pair of Finovate alums have teamed as much as supply a brand new clear various to conventional bank cards.

Trendy card issuing platform Marqeta reported this week that it’s working with banking, funds, and ecommerce platform Klarna to energy Klarna’s new cost card. The cardboard will carry Klarna’s Pay in 4 service to a bodily Visa card, and builds on a cost card partnership between the 2 firms that extends again to 2018. Marqeta at the moment allows the creation of one-time playing cards on Klarna’s app. The brand new Klarna Card will give clients the identical management, comfort, and adaptability when purchasing in bodily shops that they at the moment get pleasure from when utilizing Klarna’s Pay in 4 on the level of sale or through the Klarna app.

“Our U.S. buyer base is rising quickly and we’ve seen great demand for our new Klarna Card providing,” Klarna Chief Industrial Officer David Sykes stated. “By increasing our partnership with Marqeta, we’re leveraging their funds experience to supply our clients with an unmatched person expertise that may finally assist our enterprise develop.”

This newest collaboration comes simply months after the 2 firms expanded their partnership into 13 new European markets. Klarna will leverage Marqeta’s Simply-in-Time Funding performance to realize management over the total transaction stream, and use Marqeta’s expertise and 300+ open APIs to ship customizable experiences and assist Klarna’s worldwide enlargement.

“Marqeta’s continued partnership with Klarna is a testomony to all of the cost experiences that our fashionable card issuing platform can allow,” stated Marqeta CEO and founder Jason Gardner. “We’re proud to supply a versatile, scalable card platform that may meet the calls for of such a rapidly-growing and modern firm like Klarna.

A Finovate alum since 2012, Klarna now has greater than 147 complete energetic clients – 25 million within the U.S. – is energetic in 45 international locations and facilitates two million transactions a day. Headquartered in Stockholm, Sweden, the corporate started the yr with the launch of a bodily cost card within the U.Okay. and, in March, introduced the completion of its acquisition of comparability purchasing service firm PriceRunner. Sebastian Siemiatkowski is CEO.

Primarily based in Oakland, California, Marqeta made its Finovate debut at our builders convention, FinDEVr Silicon Valley, in 2016. Within the years since, Marqeta has issued greater than 500 million playing cards through its platform and processed greater than $110 billion in quantity in 2021. Along with its partnership with Klarna, Marqeta additionally introduced this week that it was becoming a member of Mastercard’s Community Enablement Companions Program within the Asia Pacific. The transfer will improve Marqeta’s potential to supply its APAC clients a sooner path to reside issuance.

“As one in all Mastercard’s first Community Enablement Companions to be onboarded within the Asia Pacific area, Marqeta is well-equipped to ship card issuances in file time, and to assist their fintech clients scale at velocity throughout a number of geographies,” Mastercard SVP of Digital Buyer Options APAC Ben Gilbey stated.

Picture by Olya Kobruseva