Marqeta partners with Afterpay for in-store digital card offering in Australia and New Zealand
Afterpay has transformed the way people pay by giving shoppers the ability to receive products immediately and pay in four instalments over a short period of time. The service is completely free for customers – helping consumers spend money responsibly, without incurring interest or revolving and extended debt.
Afterpay reports that it has nearly 15 million active customers globally and is offered by nearly 86,000 merchants worldwide. Afterpay recently launched a digital card that allows customers to use its service at physical retail stores.
The Marqeta platform’s innovative tokenisation capabilities allow cards to be instantly issued and provisioned immediately into a mobile wallet and helped power the launch of Afterpay’s in-store digital card product. Marqeta and Afterpay have also partnered in the United States and Canadian markets.
“Afterpay is reinventing the shopping experience for the next generation of consumers, giving them more control over their spending,” said Lynne Lagan, director of international expansion for Afterpay.
“Through our partnership with Marqeta, we are able to give our customers the same seamless and convenient payment experience whether they are shopping online or in person.”
Marqeta has issued more than 270 million cards globally through its platform and processed its first Australian transactions in February 2020. Marqeta’s innovative payments platform will help accelerate the onboarding of new merchant customers and power a seamless virtual experience for Afterpay customers.
Its global modern card issuing platform has brought speed and efficiency to an industry previously dominated by legacy players, with the world’s first open-API platform.
“Afterpay has become a truly global fintech innovator, but to help support its business in Australia, where the company was founded, as well as New Zealand, is a true honour and validation of what a true global presence Marqeta has become,” said Duncan Currie, Marqeta Country Manager for Australia and New Zealand.
“We’re excited to grow and expand our relationship with them in the region and help them utilize the power of our modern card issuing platform to continue to expand and scale their business.”