Global card issuing platform, Marqeta, has partnered with Credi2 to provide an end-to-end instalments platform designed for banks. The tie-up will help banks deliver instalment payments on cards to meet growing consumer demand for more flexible and seamless digital payments experiences.

Marqeta references research that the BNPL market will become a €300bn industry in Europe by 2025. It estimates that this constitutes about 11% of the continent’s ecommerce market.

“We’re proud to partner with Marqeta to offer more flexible checkout options for cardholders in Europe. This leverages both of our experiences working with some of the largest banking and BNPL players in Europe,” said Christian Waldheim, co-CEO, Credi2.

“Together with Marqeta, we’re enabling our customers to seamlessly integrate instalment capabilities directly into their applications. It manages the heavy lifting of creating new payments offerings and brings them to market much faster than legacy solutions.”

Credi2 platform for loans originations: developed in partnership with Visa

Credi2’s account management and servicing facility will integrate with Marqeta’s modern card issuing platform. This empowers banks to build flexible payment card programmes that embrace digital trends and seamlessly issue and process virtual cards. As a result of this partnership, banks will be able to go to market more quickly with an end-to-end instalments solution for their debit and credit card cardholders, saving valuable time and resources.

“Launching new payments solutions is incredibly time consuming and complex. The stakes are incredibly high when dealing with stringent regulatory requirements and cross-border payments,” said Todd Pollak, Chief Revenue Officer, Marqeta. “With Marqeta and Credi2, our bank customers will be able to focus on creating a delightful experience for their customers that gives them greater flexibility, while we navigate the complexities on the backend. We’re proud to work with an innovative partner like Credi2 to bring more banks to the forefront of innovation in BNPL.”

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By GlobalData