Marqeta now issues debit cards for Klarna
The BNPL giant Klarna strengthens further its partnership with Marqeta, the start-up specialist in the issue of white-label payment cards. Thus, after launching a credit card In 2022, the two partners now present a new debit card. Visa is also involved, via its service Credential Flexible Visa.
FACTS
As a reminder, Visa Flexible Credential was presented last May as a major innovation aimed at transforming a Visa payment card into an identifier allowing access to other sources of supply, instead of the card account alone, in a seamless manner.
The service will now also be linked to the new Klarna debit card powered by Marqeta.
The new Klarna/Marqeta/Visa debit card is thus presented as a new debit card optimized by Visa Flexible Credential, which gives access to a classic account as well as to integrated flexible payment solutions, including payment later.
Marqeta will now allow Klarna customers to pay immediately or later, all with the same card.
This map is being launched as part of a pilot phase in the United States, with a wider deployment planned later this year.
Since Klarna does not have a bank license in the United States, WebBank has been selected as a banking partner for the launch of this new offer attached to an account thus insured by the FDIC.
ISSUES
- Extending an association : Klarna was already leaning on Marqeta to launch her Klarna card in the United States in 2018, a virtual card allowing you to pay via the "Pay in 4" solution of Klarna. A physical version was even launched in 2022.
- Consolidate its offer : The turn taken today by Klarna through the launch of its debit card combined with an FDIC account and insurance is an important new development for the BNPL giant, as it is a banking challenger. Klarna completes, with its debit card, its diversification towards a more comprehensive offer.
PERSPECTIVE
- Marqeta states that it currently supports Klarna in six countries, thus contributing to the global growth of the BNPL giant.
- If Klarna faces a hardening the regulatory landscape in Europe, its territory of origin, it currently provides sustainability of its activities in the United States, where restrictions are precisely Lightened.
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