As more companies gravitate toward card programs to drive customer attraction and retention, they are learning that success significantly depends on the quality of the customer experience. Today, Marqeta (NASDAQ:MQ) released a pair of tools designed to make creating front-end payment experiences a much easier process.
The UX Toolkit has already attracted customers like Finfare and Bold.org. It allows customers to create front-end payment experiences from scratch.
The quality of those experiences is increasingly important. According to Marqeta, 23% of US consumers choose which card to purchase based on how easy it is to use, and “good experiences” propel consumer loyalty, with 57% of consumers reporting it as the reason they are loyal to their favorite brands.
Those customers no longer have to manage legal and regulatory requirements themselves. Marqeta officials say that shaves months off development time. UX Toolkit users also receive access to the Marqeta Studio, a builder environment with extensive customization options to fully match the business’s brand. Customers can personalize the theme, color, logo, shape, and font.
“With UX Toolkit, we’re enabling our customers to have an unprecedented level of control over the look and feel of their front-end user experiences,” Marqeta CEO Simon Khalaf said.
Khalaf said the UX Toolkit includes user interface (UI) components that can be fully customized and enhanced for better cardholder touchpoints. These include new cardholder onboarding, account funding, PIN management, security, transaction history viewing, file disputes, and account statement access.
“We want to ensure our customers can design the types of user experiences that help them boost user loyalty, and UX Toolkit delivers – allowing for the adaptable and modern payment experiences that cardholders expect,” Khalaf added. “UX Toolkit’s components have been optimized for our APIs, making it easy for developers to understand and build user experiences with fewer development resources. Businesses using UX Toolkit can choose to use UI components in combination with their developer coding and building, providing flexibility and the choice to use the UI components that best fit their needs at any given time.”
Khalaf said the UX Toolkit has enhanced compliance and security elements, helping to remove the need for customers to manage these on their own.”
Today, Marqeta also launched Portfolio Migration, which simplifies the process of transferring card programs. Tedious and expensive processes can deter companies from moving on from outdated systems.
Khalaf said Portfolio Migration includes a team of dedicated engineers and subject experts, along with Migration Engine technology.
“We can step in, side by side, with our customers, helping them every step of the way to navigate migration complexities and remove operational burdens while ensuring minimal cardholder disruptions,” Khalaf explained. “Additionally, our Migration Engine manages the transfer of cardholder data to its modern API platform, filtering, cleaning and conforming the cardholder data and ensuring a smooth transition without any disruption to the cardholder.”