Back in 2019, a16z uttered the now infamous, “Every company will become a fintech company.”
Embedded finance was poised to take on the world in a big way. Trust in traditional banks was at record lows, and the tech had developed enough to make integrating financial services into the fabric of any company a comparative breeze.
Four years on, and the a16z prophecy seems to be materializing. Brands are rolling out financial products, and their customers are demanding even more.
Today, Marqeta made another step in their path to fulfill this demand. Having already made their mark as a debit card issuing partner, they launched a credit card issuing platform.
It’s been a long time coming. The company acquired Power Finance, a credit card program management firm, earlier this year. After a few months of tinkering around in the back end, they can now support brands’ end-to-end issuance of credit cards.
The plan now is to match clients with their banking partners, streamlining co-branded credit card issuance.
FEATURED
By Kate Fitzgerald
Months after acquiring credit card program management startup Power, Marqeta has introduced a service to embed credit offers within brand marketers’ websites and applications.
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