Reported Earlier: Block Expands Marqeta Partnership To Power Square Credit Card On American Express Network, Consolidating Debit, Prepaid And Credit Programs On One Platform
Key takeaways
- Square’s partnership with Marqeta streamlines its card suite, positioning it to launch faster, more flexible credit products for growing businesses.
- 96% of SMBs are intentional about payment methods
- 34% of SMBs have moved between credit products
- 64% of SMBs want a clear path from entry‑level to advanced products
What happened
Marqeta (NASDAQ: MQ) has begun powering Square’s new business credit card on the American Express® Network, extending a partnership that already covers Square’s debit and prepaid cards. The move consolidates all of Square’s card programs onto Marqeta’s end‑to‑end issuing platform, allowing Square to migrate existing accounts without disrupting cardholders. Marqeta’s portfolio migration tools let Square move current card credentials to the new platform while keeping the user experience seamless.
Why it matters
By unifying debit, prepaid, and credit under one processor, Square cuts operational complexity and speeds the rollout of new credit features. The consolidation aligns with Marqeta’s 2026 State of Credit report, which shows 96% of small and medium‑sized businesses (SMBs) carefully choose payment methods and 34% have…
Short-term and longer-term
Short-term. Over the next few days, watch for Square’s credit card launch and any early adoption signals from SMBs.
Longer-term. In the coming months, the consolidation could reduce Square’s processing costs and open new revenue streams from credit interest.