FinTech Alliance company Marqeta has partnered with tech provider Amount to offer buy now, pay later services.
In Brief:
Marqeta is a global card issuing platform.
It has partnered with Amount to help banks enter the buy now, pay later space.
Banks will be able to go to market with an installment payment offering “in months”.
What does this mean?
Amount and Marqeta say they want to bridge the “digital tools gap” that currently means banks, while offering lending products, can’t offer them seamlessly at the point of sale through buy now, pay later.
Darren Mowry, Chief Revenue Officer at Marqeta, commented: “This partnership creates a pathway for banks to become more agile and meet customer demand for more flexible ways to pay, including BNPL.
“We’re proud to partner with Amount and bring our scalable, modern platform to a new set of banks that are taking advantage of digital tools to expand their offerings and help them compete in today’s rapidly-evolving payments landscape.”
