Marqeta Announces Marqeta Flex, An Industry-Leading, Buy Now, Pay Later Solution That Can Be Embedded Into Payment Apps

Marqeta Flex is being developed with payments platform Branch and payment providers Klarna and Affirm, enabling real time and customized BNPL options for consumers.

Marqeta (NASDAQ: MQ), the global modern card issuing platform that enables embedded finance solutions for the world’s innovators, today unveiled its Marqeta Flex solution at Money 2020, an innovative new solution that revolutionizes the way BNPL payment options can be delivered inside payment apps and wallets, surfacing them at the moment of need within an existing payment flow.

Marqeta Flex is being developed with leading payment providers Klarna and Affirm and payments platform Branch. Branch, a key innovation partner, plans to integrate the solution into its payments app for W-2 and 1099 workers, enabling their end users to easily access BNPL loan options catered to their individual needs.

“Marqeta Flex is about building upon the transformational impact that Buy Now, Pay Later has had over the last decade, and helping consumers access these options intuitively from inside an even greater range of payment experiences,” said Simon Khalaf, Marqeta's Chief Executive Officer. “We are excited to partner with industry-leading BNPL players Klarna and Affirm in the space to give consumers more choice in how they pay for every transaction they want to make.”

Marqeta has already partnered to support the exponential growth of BNPL solutions, bringing pay over time options to millions of consumers globally. Marqeta Flex is poised to bring even further syndication to the BNPL space. The solution expands the distribution of BNPL while personalizing the experience for shoppers, providing them with access to their favorite BNPL options when they need them. Supporting some of the largest BNPL solutions and card issuers today, Marqeta is uniquely positioned to recognize the opportunity for expanded BNPL distribution and how it allows for enhanced payment capabilities and greater consumer choice.

The intended benefits of Marqeta Flex for consumers, payment providers and issuers include:

• Consumers: With Marqeta Flex, consumers will be guided to the BNPL options that can meet their needs. They get access to personalized BNPL options inside of the payment apps they use most often.
• Payment Providers: Marqeta Flex expands BNPL distribution, allowing payment providers that offer pay over time options to benefit from even greater access to consumers and higher transaction volumes.
• Card issuers and digital wallets: Marqeta Flex is a powerful solution for digital wallets and card issuers, allowing them to drive payment volume by incorporating multiple BNPL offerings into the transaction experience that can be customized to user preferences. With a single integration with Marqeta Flex, they’ll have access to a variety of global BNPL providers, increasing the speed at which they can build and launch card solutions that offer flexible payment methods, including custom and user-friendly BNPL loan options.

“We’re thrilled to be building this with Marqeta and innovating how BNPL can be applied,” said Ahmed Siddiqui, Chief Payments Officer at Branch. “We look forward to giving the workers we serve even greater payment access and choice.”

Marqeta Flex is intended to be fast and simple for consumers. When launched, the user will choose the Pay Later option within their payment app and be provided with personalized BNPL payment plan options.

For more information about Marqeta Flex, please click here.

About Marqeta (NASDAQ: MQ)

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing more than $200 billion in annual payments volume in 2023. Marqeta is certified to operate in more than 40 countries worldwide and counting. Visit www.marqeta.com to learn more.

About Branch

Branch is the leading workforce payments platform that helps businesses deliver fast, flexible options for workers to get paid. Whether it’s sending earnings to employees or contractors, companies choose Branch because they know that faster payments can help them strengthen worker loyalty, save time and money, and drive business growth. Earners that sign up with Branch can receive quick access to earnings, rewards, and personal finance tools to help them manage their cash flow between pay cycles. Branch partners with the nation’s leading companies in hospitality, healthcare, gig platforms & marketplaces, and staffing services. Branch has been honored with a Webby Award—Best Financial Services, FinTech Breakthrough Award, Gartner Eye on Innovation: Financial Services, and Great Place to Work Certification. To learn more about Branch, visit https://www.branchapp.com and follow us on Twitter/X and LinkedIn.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; and those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

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James Robinson [e-mail]