Marqeta, the global modern card issuing platform, today announced that it has been chosen by Bread Financial, a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions, to enhance the in-store checkout experience for shoppers using Bread Pay, its flexible suite of Buy Now, Pay Later products.

Using Marqeta’s platform, Bread Financial will provide the Bread PayTM One-Time Use Card, providing Pay in 4 and installment loan solutions both in-store and online. This gives customers more ways to pay in the channel of their choosing. For a better, more frictionless experience for both the customer and the retailer, in-store consumers at selected stores will have the option to apply for and immediately use their preferred Bread Pay product without downloading a third-party application.

“Bread Financial is at the forefront of innovation in the BNPL space, and this relationship is a continuation of our dedication to creating tech-forward and industry-changing solutions that give shoppers more flexibility and choice,”

“We are proud to partner with Marqeta to offer new flexible payment options that will keep the merchant’s brand at the forefront of the path to purchase and deliver a more seamless experience for the end user.”

                                        Val Greer, EVP and Chief Commercial Officer at Bread Financial.

The development of the “Buy Now, Pay Later” sector has been significantly aided by Marqeta’s cutting-edge card issuing platform, which has also contributed to the rise in the popularity of flexible payment options in recent years. A BNPL solution was employed by nearly half (47%) of consumers polled by Marqeta in 2021, an increase of 27% from 2020. Bread Financial will utilize many Marqeta platform features, including virtual card issuance, industry-leading Just in Time Funding Capabilities, and tokenization advancements while working with more than 600 merchants across a range of sectors.’

“Consumers demand flexible and convenient payment solutions, and growing demand for BNPL has led merchants across industries to look into new ways to offer that flexibility,”

“Marqeta is constantly evolving our platform and seeking ways to offer our customers the latest advancements in payments. We’re excited to work with Bread to streamline its BNPL offering and make it simpler for customers to implement BNPL across their checkout experiences.”

                                                                    Simon Khalaf, Chief Product Officer at Marqeta.