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Marqeta to launch New Credit Card Platform

Marqeta, the global modern card issuing platform, today announced its expansion into the consumer credit card market to support innovative businesses that want to launch modern credit card programs. Already a leader in prepaid and debit card issuing, Marqeta’s credit card issuing platform completes its feature set, allowing it to power any card type through its modern card issuing platform. It has partnered with digital-first innovator Deserve for this launch, which will provide program management services through its own feature-rich, open API platform.

A wave of innovation in financial services has created increased choice for consumers around how they spend their money and who they bank with. This shift in consumer expectations is creating new opportunities for companies to reinvent the credit card experience, but given current technological barriers to launching a new card, traditional banks currently dominate the credit scene. According to a Marqeta survey, 64% of consumers said they would apply for a credit card from a non-traditional financial institution.

“Expanding the Marqeta platform to service modern innovators building disruptive new credit products establishes us as a truly comprehensive modern card issuing platform. We’re excited to bring a decade of experience pushing the boundaries of what a card can do, toward helping our customers build truly modern credit card products,” said Jason Gardner, Founder and CEO of Marqeta. “This past year has shown us that the future of digital payments is arriving faster than we could have anticipated, and the demand for seamless and intuitive experiences for any type of payment is not going to slow down.”

Marqeta’s API-driven credit card issuing platform will enable its customers to launch new, customised credit card products in a fraction of the time, with more flexible controls and features. Companies will have a modern credit system of record that can adjust account parameters such as rewards, APR and credit lines in real-time based on custom rules. The platform provides access to an intuitive dashboard to configure credit products compared to spreadsheets used for the same purpose today. Customers may instantly activate cardholders upon approval and provision cards directly into digital wallets.

“Today, any business that wants to launch a credit card usually faces high upfront investment, legacy technology, and little control over their end-user experience,” says Marqeta Chief of Product, Kevin Doerr. “With Marqeta’s APIs and our credit partners, like Deserve, customers can design a customised credit card program that reflects their brand experience and easily iterate with granular controls to impact credit offers, rewards, and other card features, allowing them to respond instantly to changing preferences of their user base.”

As part of its solution, Marqeta will offer program management services, such as underwriting, compliance, and risk management, through an ecosystem of partners. Its first strategic partnership is Deserve, a US-based digital-first card solution built on the foundation of providing its customers with dynamic digital-first features and highly configurable credit program management services.

“The credit market is dominated by legacy technologies, high cost of operations, and lack of customisation and speed. Marqeta’s leading card-issuing platform paired with Deserve’s digital card expertise will enable further innovation in the credit industry and provide consumers with superior card experiences,” says Kalpesh Kapadia, Deserve Co-founder and CEO. “We’re excited to launch this partnership and help bring this disruptive credit solution to market.”


  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

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