Square Shifts Business Credit Cards to Marqeta Platform to Speed Credit Innovation
70 pts · High·PYMNTS·5d ago · Oct 19, 18:58 UTC·1 min read
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Square has moved its business credit card services to the Marqeta platform, aiming to enhance its credit innovation efforts. This transition is expected to streamline operations and create more agile product offerings for Square's business customers.
Key takeaways
- ▸Square will use Marqeta's technology to handle its business credit card operations.
- ▸The shift is designed to improve credit product offerings and speed up innovation.
- ▸This move highlights a trend in fintech where companies leverage specialized platforms for efficiency.
Why this matters
This transition allows Square to quickly adapt and innovate in its credit offerings, providing better tools for small businesses. By utilizing Marqeta's platform, Square positions itself more competitively in the fintech space, likely attracting new business customers while potentially altering the landscape for traditional banks and payments services involved in business credit.
Entities
Products: business credit cards
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