Business
Marqeta Announces Expansion of its Credit Platform, Further Empowering Customers to Design Innovative Credit Card Experiences with Greater Control and Speed
New expanded platform includes over 40 new APIs and new dashboard workflows, enabling Marqeta’s customers to bring new credit products to market on an
About this update from Marqeta, Inc.
[{"type":"text","content":"\nNew expanded platform includes over 40 new APIs and new dashboard workflows, enabling Marqeta’s customers to bring new credit products to market on an accelerated timeline while embedding them directly into their brand experience, with direct access to FNBO’s program management and banking capabilities.\n\n OAKLAND, Calif.--(BUSINESS WIRE)--\nMarqeta (NASDAQ: MQ), the global modern card issuing platform, today announced a significant expansion of its credit platform with a new, intuitive dashboard and over 40 new credit APIs that enable customers to design, test, and launch differentiated credit card experiences. Marqeta’s credit platform provides customers with greater flexibility and control than legacy credit solutions, with customers also having the option to leverage First National Bank of Omaha (FNBO)’s leading program management and banking capabilities alongside these new features.\n\nDemand for credit cards has continued to grow as consumer spending habits that evolved during the pandemic have increasingly cemented, yet the technology behind credit cards largely hasn’t kept pace. Over a quarter of US consumers applied for a new credit card in the 12 months prior to October 2021—up from 15.7% in October 2020, according to New York Fed data.1 The increased demand for credit cards creates more opportunities for businesses to set themselves apart from the competition and offer enticing rewards to meet unique consumer needs, maintaining existing customer bases and attracting new ones.\n\n“Launching credit card programs has historically been time-consuming and inflexible, especially for large banks, requiring months of manual configuration before development could even begin. And once cards were in the market, it was often extremely difficult to make any changes to rewards or the customer experience once development was complete,” said Randy Kern, Chief Technology Officer, Marqeta. “We’ve brought the power of modern card issuing to the credit card market to bring much needed innovation and give our customers increased agility to respond to rapidly changing consumer demands. With these new features offered with FNBO, our customers have a much more intuitive experience and can leverage APIs to design compelling card programs with personalized rewards, digital-first experiences, and fast onboarding. In addition, when consumer ...