January 20, 2022

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Klarna and Marqeta Expand Global Partnership Into New European Markets

3 min read

LONDON–(Business WIRE)–Marqeta (NASDAQ: MQ), the world contemporary card issuing platform, introduced currently that it has expanded its partnership with Klarna, the primary world-wide retail lender, payments, and buying service, into 13 new European markets: the United Kingdom, Germany, France, Italy, Spain, Netherlands, Poland, Belgium, Austria, Ireland, Norway, Finland and Denmark.

This new European expansion of Marqeta’s partnership with Klarna commenced with the start of Klarna’s Uk purchasing application in Could 2021. This was followed by a broader growth to 12 added marketplaces in September, with Marqeta supporting Klarna’s a person-time virtual playing cards in all 12 markets. This represents a considerable enlargement of the scope of the two companies’ partnership, and a major win for Marqeta’s European company. Marqeta launched in Europe in 2018, and in November introduced that the quantity of transactions processed by its European shoppers in the 3rd quarter of 2021 improved by more than 340% yr-around-12 months.

“Klarna has seen substantial progress of our consumer base in the previous many years, most specially in the US and associates like Marqeta assist this trajectory. Marqeta’s tech system has served us swiftly realise new or enhanced products and solutions in advanced markets,” mentioned Koen Kӧppen, Main Technology Officer at Klarna. “We’re happy to now perform with Marqeta in Europe to further more leverage this experience as we build our supplying.”

Klarna commenced using Marqeta’s modern-day card issuing system in the United States in 2018, to electrical power Klarna’s one particular-time virtual card in its cellular browsing app utilized to entire any buy. Marqeta supported Klarna’s Australian start in 2020 and its new growth into the New Zealand market place. Klarna takes advantage of Marqeta’s market-defining Just-in-Time Funding characteristic to give it regulate about the full transaction movement, as perfectly as Marqeta’s strong, versatile technological know-how and suite of extra than 300 open APIs to power customizable product or service encounters and aid Klarna’s immediate world wide scale.

“Marqeta’s partnership with Klarna is an amazing case in point of what our modern day card issuing system can assistance, supporting them stand up and scale new payments experiences throughout a few continents now,” reported Jason Gardner, Founder and CEO of Marqeta. “We’re happy to help this kind of an modern organization in Klarna and are energized that they’ve demonstrated this have faith in in our partnership to get on so considerably of their European organization.”

About Marqeta

Marqeta’s fashionable card issuing system empowers its consumers to make personalized and modern payment cards. Marqeta’s system, driven by open APIs, provides its consumers the potential to develop more configurable and flexible payment experiences, accelerating products enhancement and democratizing accessibility to card issuing technologies. Its modern day architecture supplies prompt entry to hugely scalable, cloud-primarily based payment infrastructure that enables clients to start and deal with their individual card packages, problem playing cards and authorize and settle transactions. Marqeta is headquartered in Oakland, California and is enabled in 36 nations globally. For far more details, visit www.marqeta.com, Twitter and LinkedIn.

Forward-Wanting Statements

This push launch incorporates “forward-hunting statements” inside the this means of the “risk-free harbor” provisions of the Personal Securities Litigation Reform Act of 1995. Forward-hunting statements expressed or implied in this push release involve, but are not limited to, quotations and statements relating to Marqeta’s partnership with Sq. and item abilities. Genuine final results could differ materially from the expectations contained in these statements because of to risks and uncertainties, including, but not confined to, the following: any aspects generating challenges with Marqeta’s connection with Sq. and item abilities. Thorough information about these dangers and other aspects that could most likely have an effect on Marqeta’s business, fiscal situation and benefits of operations are included in the “Risk Factors” disclosed in Marqeta’s Quarterly Report on Variety 10-Q for the quarterly interval finished September 30, 2021, as these danger variables might be up to date from time to time in Marqeta’s periodic filings with the SEC, offered at www.sec.gov and Marqeta’s site at http://traders.marqeta.com. The ahead-on the lookout statements in this push launch are based on facts accessible to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-on the lookout statements, besides as expected by law.

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