Marqeta enables Square Credit Card on its card issuing platform

By Divya Shah

Why it matters: The migration highlights the growing trend of consolidating payment and card programmes onto a single processing platform. By bringing debit, prepaid and credit products together, Square has simplified operations and accelerated product development. The move also demonstrates increasing demand for integrated card issuing infrastructure that supports scalability and innovation.

Marqeta has enabled the Square Credit Card, Square’s business credit card for sellers, backed by the American Express Network. The move has brought Square’s credit card programme onto Marqeta’s card issuing platform, allowing the company to consolidate its debit, prepaid and credit card programmes under a single processor.

The migration has been completed using Marqeta’s portfolio migration capabilities, enabling existing accounts and card credentials to be transferred without disrupting the cardholder experience.

By consolidating its card portfolio on one platform, Square has reduced operational complexity and gained the ability to introduce new credit features more quickly. The transition builds on the long-standing relationship between the two companies, which began in 2019 with the launch of the Square Card, a business debit card for small business owners.

Marqeta’s commercial credit platform provides a range of capabilities through a single integration, including card issuance, transaction processing, underwriting, rewards management, risk controls and dispute management. The platform also supports programme management services such as bank and network partnerships, compliance reporting, customer service and collections.

Businesses using the platform can access spend controls, flexible account structures and real-time decisioning based on more than 300 data attributes, enabling tailored credit programmes for different customer segments.

The launch also expands Marqeta’s network capabilities through its support for American Express. The company said the migration places Square’s full card portfolio on one platform, helping it accelerate the development and delivery of credit products for small businesses.

The Square Credit Card is designed to provide sellers with a credit line that grows alongside their business volume, offering additional access to working capital as their operations expand.