Marqeta Announces Partnership with Scalapay to Deliver Buy Now Pay Later Across Europe
17 10월 2023 - 5:00PM
Business Wire
Marqeta continues European bookings momentum by
announcing a new partnership with Scalapay, Southern Europe’s
leading BNPL provider with over five million customers.
Marqeta (NASDAQ: MQ), the global modern card issuing platform
enabling some of the world’s most innovative embedded finance
solutions, today announced a new partnership with Scalapay,
Southern Europe’s leading BNPL provider, to leverage Marqeta’s
platform to issue cards both online and in-store. Marqeta and
Scalapay have signed a five year exclusive contract, where Marqeta
will issue virtual cards for online and in-person transactions,
creating a more seamless payments experience for both merchants and
consumers.
Buy Now, Pay Later (BNPL) continues to be a focal point of
consumer interest globally. According to Marqeta’s fall 2022 State
of Credit survey, more than 1-in-3 people (35%) surveyed said they
now use BNPL more than credit cards, showing continued engagement
with this lending vertical.
The flexibility of the Marqeta platform further enhances the
shopping experience provided by Scalapay. By leveraging Marqeta’s
innovative Just-in-Time Funding feature, once a Scalapay consumer
is approved for their loan and completes a purchase, a virtual card
is instantly created and funded for the exact loan amount. This
card can be immediately used for payments both online and in-store
through a digital wallet and via the existing checkout or POS,
thereby expanding exponentially the number of partners where
customers can finance their purchases.
"We are constantly seeking new ways to leverage modern payment
technologies with the aim of creating a seamless experience for our
customers. Marqeta's technical acumen and scalable platform are an
ideal partner for us in supporting our partners to create better
shopping experiences for their customers." said Simone Mancini,
CEO, Scalapay.
As Italy’s first fintech unicorn, Scalapay has seen significant
momentum since it was founded in 2019, and has raised over $727
million in funding to-date. With more than 5,000 stores and 7,000
physical points of sale, Scalapay’s pay in 3 or 4 installments’
products reaches more than 5 million users across Europe. Scalapay
merchants have seen a 48% increase in average order value,
increased cart conversion, and decreased abandonment rates. In
addition, Marqeta will help accelerate merchant onboarding by
reducing friction at the point of sale and creating a faster and
more seamless experience for their end users.
“We’ve seen customer demand for flexible payments continue to
grow, and we’re proud to power Scalapay as they create more
seamless shopping experiences for their users and help their
merchants increase adoption,” said Todd Pollak, Chief Revenue
Officer, Marqeta. “As more companies embrace new checkout options,
we’re well-positioned to continue our momentum in Europe and work
closely with our customers to deliver high-quality, innovative
payments offerings.”
About Marqeta
Marqeta’s modern card issuing platform empowers its customers to
create customized and innovative payment cards. Marqeta’s platform,
powered by open APIs, gives its customers the ability to build more
configurable and flexible payment experiences, accelerating product
development and democratizing access to card issuing technology.
Its modern architecture provides instant access to highly scalable,
cloud-based payment infrastructure that enables customers to launch
and manage their own card programs, issue cards and authorize and
settle transactions. Marqeta is headquartered in Oakland,
California and is certified to operate in 40 countries globally.
For more information, visit www.marqeta.com, Twitter and
LinkedIn.
About Scalapay
Scalapay is an innovative payment solution for e-commerce
merchants across the globe that allows customers to buy now and pay
later, in 3 or 4 installments, without interest. Spreading payments
over time allows consumers to choose what they really love, and
gives them access to the best quality, their favorite brand, or
item without impacting their budget. Scalapay's mission is to
provide a global platform that is based on pleasure and better
consumption choices.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements expressed or implied in this press release include, but
are not limited to, quotations and statements relating to changing
consumer preferences; increasing consumer adoption of certain
digital payment methods, products, and solutions; which payment,
banking, and financial services products and solutions may succeed;
technological and market trends; Marqeta’s business; Marqeta’s
products and services; and statements made by Marqeta’s senior
leadership. Actual results may differ materially from the
expectations contained in these statements due to risks and
uncertainties, including, but not limited to, the following: any
factors creating issues with changes in domestic and international
business, market, financial, political and legal conditions; the
effect of and uncertainties related to the U.S. and global
economies and demand for Marqeta’s services and products; the the
risk of ongoing financial services and banking sector instability
and follow on effects to fintech companies, general economic
conditions in either domestic or international markets, including
inflation and recessionary fears, conditions resulting from
geopolitical uncertainty and instability or war, including the
direct and indirect effects of the significant military action
against Ukraine launched by Russia on U.S. and global economies,
our business, results of operations, and financial condition; the
risk that Marqeta is unable to further attract and grow its
customer base; the risk that consumers will not perceive the
benefits of Marqeta’s products and services, including digital
payment and banking products and services; the risk that Marqeta's
products and services do not operate as intended, including digital
payment and banking products and services; the risk that Marqeta’s
products and solutions will not achieve the expected market
acceptance, including digital payment and banking products and
services; and the risk that competition could reduce expected
demand for Marqeta’s products and services, including digital
payment and banking products and services. Detailed information
about these risks and other factors that could potentially affect
Marqeta’s business, financial condition and results of operations
are included in the “Risk Factors” disclosed in Marqeta's Annual
Report on Form 10-K for the year ended December 31, 2022, as such
risk factors may be updated from time to time in Marqeta’s periodic
filings with the SEC, available at www.sec.gov and Marqeta’s
website at http://investors.marqeta.com. The forward-looking
statements in this press release are based on information available
to Marqeta as of the date hereof. Marqeta disclaims any obligation
to update any forward-looking statements, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231017678887/en/
Media: James Robinson 530-913-0844 jrobinson@marqeta.com
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