It has been a busy month for Klarna, the global digital bank and flexible payments provider. It kicked off with a big announcement at Money20/20, launching a new debit card in partnership with Visa. Now, the firm has announced that is expanding its partnership with Marqeta, the global modern card issuing platform, to enable the new debit card.
In July 2024, Marqeta became the first issuer processor in the US certified for Visa Flexible Credential (VFC). With VFC, Marqeta will enable Klarna customers to pay immediately or pay later when needed, all on the same card.
This milestone builds on years of collaboration between Marqeta and Klarna, including powering Klarna’s virtual cards in the US since 2018. The card is currently in a trial phase in the US, with a broader rollout in the US expected later this year.
“The future of payments is flexible, and we’re proud to enable this new offering together with Visa,” said Rahul Shah, chief product and engineering officer, Marqeta. “Our ongoing partnership with Klarna is a true testament to what’s possible with Marqeta’s platform and how we enable our customers to grow and innovate at global scale.”
“Through our continued partnership with Marqeta and Visa, we’re evolving the Klarna Card into a truly dynamic and versatile payment experience,” said David Sandström, chief marketing officer, Klarna. “We’re excited to continue innovating alongside Marqeta as we scale the Klarna Card to provide smart, seamless payments that empower smarter, more informed shoppers everywhere.”
With its modern, flexible card issuing platform, Marqeta makes it possible for firms like Klarna to expand to new markets and offer innovative payment options tailored to evolving customer needs. Marqeta currently supports Klarna in six countries, helping to drive global growth and deliver seamless, consumer-first experiences.
