Klarna Companions with Marqeta to Launch its New Card

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

A pair of Finovate alums have teamed as much as supply a brand new clear different 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 fee card. The cardboard will convey Klarna’s Pay in 4 service to a bodily Visa card, and builds on a fee card partnership between the 2 corporations that extends again to 2018. Marqeta at the moment permits the creation of one-time playing cards on Klarna’s app. The brand new Klarna Card will give prospects the identical management, comfort, and adaptability when purchasing in bodily shops that they at the moment take pleasure in when utilizing Klarna’s Pay in 4 on the level of sale or by way of the Klarna app.

“Our U.S. buyer base is rising quickly and we’ve seen large 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 offer our prospects with an unmatched person expertise that may in the end assist our enterprise develop.”

This newest collaboration comes simply months after the 2 corporations 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 move, and use Marqeta’s know-how and 300+ open APIs to ship customizable experiences and help Klarna’s worldwide enlargement.

“Marqeta’s continued partnership with Klarna is a testomony to all of the fee experiences that our trendy 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 lively prospects – 25 million within the U.S. – is lively in 45 nations and facilitates two million transactions a day. Headquartered in Stockholm, Sweden, the corporate started the yr with the launch of a bodily fee 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 by way of 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 means to supply its APAC prospects a sooner path to stay issuance.

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

Photograph by Olya Kobruseva