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Marqeta powers Capital on Tap’s expansion to Spain

By Robin Amlot

June 30, 2020

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Marqeta, the card issuing platform, has helped the UK’s Capital on Tap, to expand its small business credit lending services to Spain. Capital on Tap will be using Marqeta to power payment processing for its small business credit card, offering a working capital facility of up to €50,000 for small businesses. Capital on Tap’s new Spanish users will be provided with a new, Marqeta-powered credit card, offering small businesses a faster and more transparent way to fund their business.

Using Marqeta, Capital on Tap allows Spanish SMEs to access funding with online onboarding processes. Decisions on funding can be made within a day. In addition, Marqeta-powered credit cards enable customisation, expense tracking, and categorisations to meet the needs of small businesses.

Marqeta’s API-driven approach made it simple for Capital on Tap’s systems and developers to customise the card programmes to meet the needs of the Spanish market. The team was able to replicate its existing card programme in the UK with a few modifications – for example, switching currencies and lending criteria.

“Launching a new card programme in a new region can be extremely complex. With other providers it would potentially involve an entirely new build, but with Marqeta it was surprisingly easy – we could essentially copy and paste our UK model across, with a few small but essential tweaks to ensure it was a perfect fit for the market,” said Zoe Newman, Capital on Tap’s Head of International Expansion. “Using our existing Marqeta sandbox environment we were able to begin testing as soon as we were ready. The Marqeta team was very responsive and on-call to help with any of our questions. If we’d had to start from scratch with another third-party provider, it would have taken over 6 months, but once we made the decision it only took a couple of days to get everything up and running. It has also provided us with a blueprint for future expansions across Europe and the US in years to come.”

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