It has been a busy month for Klarna, the worldwide digital financial institution and versatile funds supplier. It kicked off with a giant announcement at Money20/20, launching a brand new debit card in partnership with Visa. Now, the agency has introduced that’s increasing its partnership with Marqeta, the worldwide fashionable card issuing platform, to allow the brand new debit card.
In July 2024, Marqeta turned the primary issuer processor within the US licensed for Visa Versatile Credential (VFC). With VFC, Marqeta will allow Klarna prospects to pay instantly or pay later when wanted, all on the identical card.
This milestone builds on years of collaboration between Marqeta and Klarna, together with powering Klarna’s digital playing cards within the US since 2018. The cardboard is presently in a trial section within the US, with a broader rollout within the US anticipated later this yr.
“The way forward for funds is versatile, and we’re proud to allow this new providing along with Visa,” mentioned Rahul Shah, chief product and engineering officer, Marqeta. “Our ongoing partnership with Klarna is a real testomony to what’s doable with Marqeta’s platform and the way we allow our prospects to develop and innovate at international scale.”
“By way of our continued partnership with Marqeta and Visa, we’re evolving the Klarna Card into a very dynamic and versatile fee expertise,” mentioned David Sandström, chief advertising and marketing officer, Klarna. “We’re excited to proceed innovating alongside Marqeta as we scale the Klarna Card to offer sensible, seamless funds that empower smarter, extra knowledgeable customers in every single place.”
With its fashionable, versatile card issuing platform, Marqeta makes it doable for corporations like Klarna to broaden to new markets and supply revolutionary fee choices tailor-made to evolving buyer wants. Marqeta presently helps Klarna in six nations, serving to to drive international development and ship seamless, consumer-first experiences.
