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Square Shifts Business Credit Cards to Marqeta Platform to Speed Credit Innovation

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Square Shifts Business Credit Cards to Marqeta Platform to Speed Credit Innovation

Square has consolidated its credit and debit programs on Marqeta’s card issuing platform, saying this will enable the company to bring new credit features to market more quickly.

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With this move, Square migrated its Square Credit Card to Marqeta, which already enables Square’s debit and prepaid programs, the companies said in a Monday (Oct. 19) press release.

Square Credit Card is Square’s business credit card for sellers. It is backed by the American Express Network, according to the release.

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“Square sellers depend on both credit and debit to run their businesses, and consolidating those programs onto Marqeta’s platform means we can move faster and safer on the products they need,” Andrea Raj, head of product for Square Banking at Block, Square’s parent company, said in the release. “Migrating our existing cardholders without any disruption to their experience was critical, and Marqeta delivered.”

Marqeta’s portfolio migration capabilities enable the move without disrupting the cardholder experience, according to the release.

The longstanding relationship between Square and Marqeta began in 2019 when they partnered to introduce the Square Card, a business debit card for small business owners that provides access to earnings immediately and without additional fees, per the release.

Marqueta’s commercial credit platform delivers capabilities that include card issuance and transaction processing, underwriting, rewards management, risk controls and disputes.


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