Marqeta launches new BNPL solution with Klarna, Affirm & Branch

By Gloria Mathias

Marqeta, the global modern card issuing platform that enables embedded finance solutions, has unveiled its Marqeta Flex solution at Money 2020.

The new solution revolutionises the way BNPL payment options can be delivered inside payment apps and wallets, surfacing them at the moment of need within an existing payment flow.

Marqeta Flex is being developed with payment providers Klarna and Affirm and payments platform Branch. Branch, a key partner, plans to integrate the solution into its payments app for W-2 and 1099 workers, enabling their end users to access BNPL loan options catered to their individual needs easily.

“Marqeta Flex is about building upon the transformational impact that Buy Now, Pay Later has had over the last decade and helping consumers access these options intuitively from inside an even greater range of payment experiences,” said Simon Khalaf, Marqeta’s CEO. “We are excited to partner with industry-leading BNPL players Klarna and Affirm in the space to give consumers more choice in how they pay for every transaction they want to make.”

Marqeta has already partnered to support the growth of BNPL solutions, bringing pay-over-time options to millions of consumers globally. Marqeta Flex is poised to get even further syndication to the BNPL space. The solution expands the distribution of BNPL while personalising the experience for shoppers, providing them with access to their favoured BNPL options when they need them.

“We’re thrilled to be building this with Marqeta and innovating how BNPL can be applied,” said Ahmed Siddiqui, Chief Payments Officer at Branch. “We look forward to giving the workers we serve even greater payment access and choice.”

Marqeta Flex is intended to be fast and simple for consumers. When launched, the user will be able to choose the Pay Later option within their payment app and be provided with personalised BNPL payment plan options.