back Back

Marqeta partners with Scalapay to deliver BNPL across Europe

By Gloria Methri

October 18, 2023

  • Buy Now Pay Later (BNPL)
  • Card Abandonment
  • Card Issuing Platform
Share

Scalapay, Marqeta, BNPL,  Embedded Finance, Just-in-Time Funding, FinTech, EuropeScalapay, one of Europe’s leading BNPL providers has partnered with Marqeta, the global modern card issuing platform enabling embedded finance solutions. The companies have signed a five-year exclusive contract, where Marqeta will issue virtual cards for online and in-person transactions, creating a more seamless payment experience for both merchants and consumers.

The flexibility of the Marqeta platform further enhances the shopping experience provided by Scalapay. By leveraging Marqeta’s 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 of 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, the company’s installment products reach 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 have seen customer demand for flexible payments continue to grow, and we are 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 are well-positioned to continue our momentum in Europe and work closely with our customers to deliver high-quality, innovative payment offerings.”

Previous Article

October 18, 2023

Instant Cash rolls out Open API solution to simplify payment services

Read More
Next Article

October 18, 2023

4 Payment Gateways disrupting eCommerce market in MENA

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Buy Now Pay Later (BNPL)

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 23, 2024

4 BNPL platforms providing financial freedom to consumers in MENA

Read More

July 23, 2024

Paytm & Axis Bank to offer POS solutions to merchants

Read More

July 23, 2024

Klarna integrates Sofort payment service with Klarna Payments

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024