Marqeta (NASDAQ:MQ) has announced a new partnership with European Fintech Klarna, a buy now – pay later (BNPL) provider. According to a statement by Marqeta, Klarna will use it to issue the Klarna Card, enabling its customers in the US to pay anywhere using Klarna’s “Pay in 4” solution both online and in-store with a physical card.
Klarna began using Marqeta’s card issuing platform in the United States in 2018. In December 2021, Klarna and Marqeta revealed a partnership pertaining to 13 different European markets. The new card is now available in the US.
David Sykes, Chief Commercial Officer at Klarna, said their US customer base is growing rapidly:
“By expanding our partnership with Marqeta, we’re leveraging their payments expertise to provide our customers with an unmatched user experience that will ultimately help our business grow.”
Jason Gardner, founder and CEO of Marqeta, described the partnership with Klarna as a testament to what his company can provide:
“We’re proud to offer a flexible, scalable card platform that can meet the demands of such a rapidly-growing and innovative company like Klarna.”
Klarna recently has had to cut back on its staffing due to the challenging global economy – yet the above indicates ongoing growth in the US. Prior to the announcement of the staff reduction, Klarna announced topping 150 million users.
