Block has selected Marqeta to power the Square Credit Card on the American Express Network, consolidating Square’s card programmes.
Marqeta now acts as the issuer processor for the Square Credit Card, a business credit card for Square sellers that runs on the American Express Network. With the move, Square brings its debit, prepaid, and credit programmes onto a single card issuer processor. The change is intended to reduce operational complexity and shorten the time needed to launch new credit features. According to the companies, existing Square Credit Card accounts and card credentials have been migrated to Marqeta using its portfolio migration capabilities, without disruption to the cardholder experience.
The two companies first worked together in 2019, when Square introduced the Square Card with Marqeta. The business debit card gives small business owners immediate access to their earnings without additional fees, allowing them to reinvest funds into their operations. The Square Credit Card extends that offering with a credit line that grows with a seller’s business volume. The Square Debit Card is issued by Sutton Bank under a licence from Mastercard. Square Credit Cards are issued by Celtic Bank under a licence from American Express.
Andrea Raj, Head of Product for Square Banking at Block, said sellers rely on both credit and debit to run their businesses. In Raj’s view, placing both programmes on one platform allows the company to move faster and more safely on the products sellers need. Raj added that migrating existing cardholders without disrupting their experience was a critical requirement.
What the platform covers
Marqeta’s commercial credit platform combines several functions within a single integration: card issuance, transaction processing, underwriting, rewards management, risk controls, and dispute handling. Businesses using the platform can apply granular spend controls and configure flexible account hierarchies. They can also use real-time decisioning based on more than 300 data attributes. Moreover, the company offers full programme management, which covers bank and network partnerships, regulatory and compliance reporting, customer service, and collections. This reduces the number of vendors a card programme requires. Adding American Express to its network partners widens the range of networks Marqeta supports.
Todd Pollak, Chief Revenue Officer at Marqeta, said that bringing Square’s full card portfolio onto one platform is intended to let Square build and iterate on credit products for small businesses more quickly.
SMB demand for credit and debit
The announcement draws on findings from Marqeta’s 2026 State of Credit report, which surveyed small and medium-sized businesses (SMBs). The results show that 96% said they are intentional about which payment method they use for a given transaction. This points to demand for both credit and debit products. The research also found that 34% of respondents have moved between credit products as their business evolved, while 64% want a clear path from entry-level to more advanced products.
By running debit, prepaid, and credit on the same issuer processor, Square now manages its full seller card portfolio within one technical environment as it develops further credit features.
