Marqeta partners with Rain

Friday 19 April 2024 15:30 CET | News

US-based Marqeta has announced its partnership with Rain in order to deliver earned wage access to customers through the use of Embedded Finance. 

Following this announcement, Marqeta is expected to power the Rain Card, a branded debit card that was developed in order to enable employers to disburse earned wages onto the cards in a secure and efficient manner. In addition, the partnership will focus on scaling Marqeta’s early wage access offerings to more employers across multiple sectors of the economy. This includes education, hospitality, healthcare, and more. 

Both Marqeta and Rain will focus on meeting the needs, preferences, and demands of customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. 


More information on the collaboration

US-based Embedded Finance and modern card issuing platform, Marqeta was designed in order to provide its customers and clients with the possibility to develop customised and optimised payment cards and Embedded Finance offerings. The company’s platform is powered by open APIs, which gives clients the ability to build more flexible payment experiences, as well as the opportunity to accelerate product developments and democratise access to card issuing technology. 

By providing employees quicker and safer access to their wages, the partnership is expected to enable individuals to reduce their reliance on credit, pay their bills on time, as well as improve the manner in which they manage finances. In addition, both Marqeta and Rain will focus on optimising the way customers benefit from a more satisfied and engaged workforce. 

According to the official press release, through the use of Marqeta’s platform and Embedded Finance opportunities, Rain will be given the possibility to integrate the Rain Card into its customer experience, as well as allow users to distribute Marqeta-powered debit cards that offer workers early access to their earned wages. 

At the same time, as paycheck flexibility becomes an increasingly popular expectation from employees and workers, companies and businesses are expected to integrate and benefit from solutions that expedite employee payments. In addition, as faster wage solutions were developed in order to provide the flexibility workers wish for, this process is set to lead to a more engaged and loyal workforce. The initiative will optimise the manner in which companies reduce overhead recruitment and training costs as well. 

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: partnership, banking, online banking, mobile banking, digital banking, financial services, financial institutions, embedded finance
Categories: Banking & Fintech
Companies: Marqeta, Rain
Countries: United States
This article is part of category

Banking & Fintech




Discover all the Company news on Marqeta and other articles related to Marqeta in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events