Marqeta joins forces with Visa and Affirm


After achieving certification with Visa Flexible Credential in May 2024, the company now partnered with Visa and Affirm to deliver the solution, allowing cardholders of its participating customers to institute parameters and decide whether they leverage debit, credit, pay-in-four with Buy Now, Pay Later (BNPL), or pay suing reward points. As revealed formerly, Visa Flexible Credential is set to be rolled out initially in the US with Affirm later in 2024.

Marqeta has joined forces with Visa and Affirm to provide the Visa Flexible Credential, a single card product for different payment methods, in the US.

Through this, Marqeta aims to offer consumers the ability to benefit from Visa’s acceptance, as well as the features of its platform and Affirm’s technology and underwriting capabilities in BNPL. The move follows an increase in consumer demand for more flexibility when it comes to how they pay for their goods and services. In its State of Credit Report from 2023, Marqeta highlighted consumers, when deciding their next credit card, were influenced by the level of flexibility and customisation it provided. Also, 71% of US BNPL users reported an increased interest in accessing other financial services via their BNPL provider. This underlines the readiness of consumers to find additional payment options that could serve their needs and financial situations.

Marqeta’s development strategy

Being amongst the first issuer processor in the US to be certified for Visa Flexible Credential, Marqeta is set to allow participating customers to deliver several varieties of payment options on a single card, thus working towards offering an optimised and simplified payment experience regardless of the chosen payment method. Additionally, the current announcement supports Marqeta customers in advancing their consumer purchase experience and increase merchant adoption.

Furthermore, representatives from Marqeta underlined that, by merging Visa’s acceptance and Affirm’s technology, underwriting, and consumer experience with their company’s platform, the firm plans to further assist consumers, merchants, and issuers. Marqeta aims to continue its work with its partners and enable additional technologies that optimise payments by making them more flexible for consumers.
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