Slope Taps Marqeta to Power Buy Now, Pay Later Card, Enabling Brands And Marketplaces To Offer Flexible Loan Options
The Marqeta-powered Slope Card will allow businesses of any size to get lower cost and modern access to business capital at checkout
Marqeta (NASDAQ:MQ), the global modern card issuing platform that enables embedded finance solutions for the world's innovators, today announced its customer Slope, powering the Slope Card and enabling low interest Buy Now, Pay Later (BNPL) loan options for its commercial customers. The Slope Card enables businesses to pay in-store or online with 30 or 60 day loan options, allowing for increased flexibility and choice in how they make payments and manage their finances.
The status quo in accessing capital and streamlining expenses creates a struggle for many businesses today. The Slope Card is an example of how flexible payment solutions can overcome that status quo, make capital more accessible and meet the evolving needs of businesses of all sizes. Global retailer IKEA is already utilizing the Slope Card, enabling its IKEA for Business small and medium sized (SMB) business clientele to access BNPL options at checkout in-store and online. Slope chose Marqeta to power its Slope Card because of its single, trusted platform and proven expertise in powering scalable card programs for some of the biggest names in the BNPL space. By integrating with Marqeta, Slope enables its customers to make in-store purchases when needed and spread payments over time, enhancing cash flow and allowing for faster access to working capital.
"At Slope, we are committed to empowering businesses to thrive by making digital payments and financing more seamless and accessible," said Lawrence Lin Murata, CEO and Co-Founder of Slope. "Marqeta allows us to deliver flexible and scalable BNPL solutions that provide businesses with timely access to low interest loans. Together, we're driving a transformative approach to financial management, empowering businesses with easier access to working capital when they need it most."
Marqeta's technology simplifies the process of launching card programs, enabling companies to put their brands front and center and provide the embedded, mobile payment experiences today's consumers expect. With flexible APIs, Marqeta offers control and security, enabling real time card issuance and transaction monitoring, and simplified financial management, allowing businesses to focus on what's most important–their growth.
"We couldn't be more thrilled to power Slope's commercial BNPL card solution, bringing the innovative payment experience that changed the consumer retail landscape to household names like IKEA, and building on their ability to provide fast, secure and flexible digital payment options to their SMB customers," said Todd Pollak, Chief Revenue Officer at Marqeta. "This is another example of how Marqeta is pioneering the responsible transformation in payments to enable brands to offer embedded finance solutions that unlock purchasing power for businesses whenever needed."
About Marqeta (NASDAQ:MQ)
Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta's platform has been proven at scale, processing more than $200 billion in annual payments volume in 2023. Marqeta is certified to operate in more than 40 countries worldwide and counting. Visit www.marqeta.com to learn more.
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 changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta's business; Marqeta's products and services; and statements made by Marqeta's senior leadership. 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 changes in domestic and international business, market, financial, political and legal conditions; and those risks and uncertainties included in the "Risk Factors" disclosed in Marqeta's Annual Report on Form 10-K, as may be updated from time to time in Marqeta's periodic filings with the SEC, available at www.sec.gov and Marqeta's website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.
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