Marqeta, a fintech unicorn that claims to be the first global modern card issuing platform, announced on Thursday it has teamed up with Afterpay for in-store digital card offering in both Australia and New Zealand. The duo has also partnered in the U.S and Canadian markets
According to Marqeta, Afterpay offers four-installment payment options over a short period of time. The Service, which is free for customers, has nearly 15 million active customers globally and is offering by nearly 86,000 merchants worldwide. Speaking about the partnrship with Marqeta, Lynne Lagan, Director of International Expansion for Afterpay, stated:
“Through our partnership with Marqeta, we are able to give our customers the same seamless and convenient payment experience whether they are shopping online or in person.”
Marqeta added its payments platform will help accelerate the onboarding of new merchant customers and power a seamless virtual experience for Afterpay customers.
As previously reported, Marqeta claims it has re-engineered how payment cards, virtual cards, and mobile authorization products should be developed and deployed by providing a fully documented, open API issuer processor platform.
“Companies can build, issue and deploy innovative payment, finance and commerce solutions with enormous control over what, where, and how purchases are authorized.”
Marqeta reported it has issued more than 270 million cards globally through its platform and processed its first Australian transactions in February 2020.