Figure partners with Marqeta to power digital banking and Buy Now, Pay Later

Tuesday 21 September 2021 11:43 CET | News

Marqeta, a US-based fintech, has partnered with payment service provider, Figure, to power the launch of the Figure Pay product, an all-in-one digital money app.

Figure Pay is currently available in 26 states and is expanding in the US. It is built on the Provenance Blockchain payments infrastructure, which allows for faster payments and cuts down on merchant costs. Figure Pay offers its users a fee-free deposit account, seamless money transfer, a rewards programme, and free access to a network of 55,000 ATMs, the company reports.

It also has native Buy Now, Pay Later functionality built in, allowing a consumer to decide at the point of sale whether they want to finance any purchase. Figure also has a commitment to financial inclusion and allowing underbanked users to access financing and build credit history.

Marqeta’s Just-in-Time functionality will allow Figure to manage its own transaction authorisations, providing the flexibility to Figure Pay users of being able to opt between debit and point of sale lending.

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Keywords: partnership, BNPL, digital currency, mobile payments
Categories: Payments & Commerce | Mobile Payments
Countries: United States
This article is part of category

Payments & Commerce