Marqeta Teams Up with Square To Power Canadian Expansion of Square Card
Marqeta (NASDAQ: MQ) has facilitated the launch of Square Card in Canada, aiding small businesses in cash flow management. This initiative allows immediate access to funds after sales, helping prevent business failures often tied to cash flow issues. The platform's integration with card networks and compliance expertise enabled this swift expansion. As a result, Canadian sellers can instantly create tokenized virtual cards through Marqeta’s push provisioning functionality, enhancing financial agility for small businesses.
- Enabled Square to launch Square Card in Canada, enhancing the service for small businesses.
- Allows immediate fund access after sales, addressing critical cash flow issues for small businesses.
- Leverages Marqeta’s technology for seamless scaling and quick market entry.
- None.
Marqeta’s modern card issuing platform enabled Square to launch its Square Card offering in
Small businesses in particular have felt the pain of the ongoing pandemic, and managing cash flow is one of the top reasons why small businesses ultimately fail1. In 2019,
Marqeta’s global modern card issuing platform enabled Square to expand and quickly ramp up in a new international market. To help navigate the intricacies of this process, Square relied on Marqeta’s integrations with card networks, compliance expertise, and risk management capabilities. Marqeta’s push provisioning functionality made it possible for Square sellers to instantly create a new, tokenized virtual card, eliminating the need to wait for a physical card in the mail to access their funds. In addition, Square used
“Our partnership with
“Our platform helps companies build innovative card programs that scale globally rapidly, and the Square Card expansion into
Square Card is issued by
About
Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards. Marqeta’s modern architecture gives its customers the ability to build more configurable and flexible payment experiences, accelerating time-to-market and democratizing access to card issuing technology.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to Marqeta’s relationship with Square and product capabilities. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with the relationship with Square and the qualities and capabilities of products. Detailed information about these risks and other factors that could potentially affect Marqeta’s business, financial condition and results of operations are included in the “Risk Factors” disclosed in
The forward-looking statements in this press release are based on information available to
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