Swedish buy now, pay later (BNPL) firm Klarna has selected the card issuing platform of existing partner Marqeta to support the rollout of its upcoming debit card offering in the US.
Klarna previously announced a pilot of the card initiative at Money20/20 Europe last month, alongside a partnership with the Visa flexible credential (VFC) platform.
Marqeta, based in Oakland, California, became the first issuer processor in the US to be certified for VFC in July last year, and has been powering Klarna’s US virtual card offering since 2018.
“With VFC, Marqeta will enable Klarna customers to pay immediately or pay later when needed, all on the same card,” according to the vendor’s statement on the partnership.
“The card is currently in a trial phase in the US, with a broader rollout in the US expected later this year,” the statement continues.
This card initiative comes as Klarna prepares to go public on the New York Stock Exchange (NYSE), with a Form F-1 registration statement filed with the Securities and Exchange Commission (SEC) in March.
Source: https://www.fintechfutures.com/
