Klarna and Marqeta expand global partnership

Tuesday 7 December 2021 10:01 CET | News

US-based card issuer Marqeta has extended its partnership with BNPL provider Klarna into 13 new European markets.

This new European expansion of Marqeta’s partnership with Klarna began with the launch of Klarna’s UK shopping app in May 2021. This was followed by a broader expansion to 12 additional markets in September 2021, with Marqeta supporting Klarna’s one-time virtual cards in all 12 markets.

The new markets in which the partnership has now extended are: the United Kingdom, Germany, France, Italy, Spain, Netherlands, Poland, Belgium, Austria, Ireland, Norway, Finland and Denmark. Klarna uses Marqeta’s Just-in-Time Funding feature to give it control over the full transaction flow, as well as Marqeta’s technology, and suite of more than 300 open APIs to power customisable product experiences, and support Klarna’s rapid global scale.

Klarna began using Marqeta’s modern card issuing platform in the United States in 2018, to power Klarna’s one-time virtual card in its mobile shopping app used to complete any purchase. Marqeta supported Klarna’s Australian launch in 2020 and its recent expansion into the New Zealand market. Marqeta launched in Europe in 2018, and in November 2021 announced that the number of transactions processed by its European customers in the third quarter of 2021 increased by over 340% year-over-year.

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Keywords: mobile payments, partnership, expansion, virtual card, BNPL, API, Marqeta, Klarna
Categories: Payments & Commerce
Countries: Europe
This article is part of category

Payments & Commerce