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Marqeta, Bread Financial to launch seamless ecommerce solution

Monday 12 September 2022 11:47 CET | News

Global modern card issuing platform, Marqeta, has announced a strategic partnership with Bread Financial, a tech-forward financial services company to enhance the in-store checkout experience for shoppers using Bread Pay.

Instalment payments for enhanced flexibility

Bread Financial provides simple and personalised payment lending solutions, among which, the most popular is Bread Pay, a flexible BNPL product. By using Marqeta’s platform, Bread Financial aims to launch a new product, Bread Pay One-Time Use Card, which will deliver Pay in 4 and instalment loan products both online and in-store. 

In-store shoppers at participating retailers can apply for the card immediately and use their preferred Bread Pay product without downloading another app, which will deliver a frictionless and smooth payment process, both for merchants and for the consumers.

Partners in success 

By partnering with Marqeta, Bread Financial is aiming to innovate the BNPL space by creating tech-forward solutions to change the industry and deliver shoppers with a seamless buying process, whether online or in-store. The agreement between the two companies will also mean new flexible payment options for customers, while innovating the overall payment industry.

According to a survey commissioned by the card issuer in 2021, almost half of its respondents (47%) said they used a form of BNPL product, up 27% from a year prior. Flexible payments and the ability to pay later or in instalments throughout an extended period represent the main reasons why this type of products has become increasingly popular, especially during the pandemic and in times of economic uncertainties, when people seem to be less keen on splurging on expensive products and services.

At the moment, Bread Payments works with over 600 merchants in various verticals, and will use features of the Marqeta platform, including virtual card issuance and tokenization innovations to boost its clientele and bring customers tailored payment and card solutions.

Card issuing platform, Marqeta, has announced a strategic partnership with Bread Financial, a financial services company to boost the in-store checkout experience for shoppers using Bread Pay.

 

About the companies

Marqeta is a card issuing platform that empowers its customers to create customised payment cards. Its platform is powered by open APIs and provides customers with the ability to build configurable and flexible payment experiences, as well as launching and managing their own card programmes. Headquartered in the US, Marqeta is available in 39 countries globally.

At the same time, Bread Financial is also a US-based company that provides a wide array of financial services, including private label credit cards, coalition loyalty programmes, and direct marketing. It is publicly listed at the NYSE and its most popular service, Bread Pay, provides flexible Buy Now, Pay Later solutions, starting at 0% APR.


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Keywords: BNPL, credit card, debit card, virtual card, Issuer, payments , payment methods, digital payments, API, tokenization, loyalty programme, instalment payments, partnership, online payments
Categories: Payments & Commerce
Companies: Bread Financial, Marqeta
Countries: World
This article is part of category

Payments & Commerce

Bread Financial

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Marqeta

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