Marqeta, Inc. (NASDAQ: MQ), the modern card issuing platform, announced it is working with Klarna (NYSE:KLAR), the digital bank and flexible payments provider, to expand the Klarna Card into 15 new European markets. This launch extends Marqeta’s partnership with Klarna and leverages Visa’s Flexible Credential (VFC) tech, enabling customers to choose between paying now or later.
Via a single integration with Marqeta’s platform, Klarna is able to accelerate time-to-market and scale across countries. The Klarna Card is rolling out in the UK, Denmark, Germany, Norway and Poland, and is “available in Austria, Belgium, Finland, France, Ireland, Italy, the Netherlands, Portugal, Spain, Sweden, and the U.S.”
This expansion follows the U.S. launch of the Klarna Card in June of this year, and builds further upon Marqeta and Klarna’s partnership. In July 2024, Marqeta became the “first issuer processor in the U.S. certified for Visa Flexible Credential.”
Rahul Shah, Chief Product and Engineering Officer, Marqeta said that this rollout across 15 new markets “demonstrates the power of Marqeta’s platform to advance innovation at scale, and they’re eager to continue growing partnerships with Klarna and Visa.”
Marqeta’s platform enables industry participants like Klarna to create customized card programs using the latest payment solutions, “achieving significant scale without sacrificing control.”
As noted in the update, Marqeta ,akes it possible for companies to build and embed financial services “into their branded experience—and unlock new ways to grow their business and delight users.”
With compliance and security built-in, Marqeta’s platform has reportedly been proven at scale, processing “nearly $300 billion in annual payments volume in 2024.”
Marqeta is certified to operate in “more than 40 countries worldwide.”
As covered, Klarna is a global digital bank and flexible payments provider.
With over 111 million Klarna users and 2.9 million transactions per day, Klarna’s AI-enhanced payments and commerce network is enabling consumers to pay with a mission to be “available everywhere for everything.”
Consumers are able to pay with Klarna online, in-store and via Apple Pay & Google Pay. Over 790,000 retailers reportedly use Klarna’s solutions in order to enable growth and loyalty, including Uber, H&M, Saks, Sephora, Macy’s, Ikea, Expedia Group, Nike and Airbnb.
