Marqeta (NASDAQ: MQ), the modern card issuing platform, announced today that it is enabling the Square Credit Card, Square's business credit card for sellers, backed by the American Express® Network.
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With the migration to Marqeta, Square is consolidating its debit, prepaid, and credit programs onto one modern card issuer processor, reducing operational complexity and enabling Square to bring new credit features to market more quickly. Marqeta’s portfolio migration capabilities enable Square to migrate existing accounts and card credentials to Marqeta without disrupting the cardholder experience.
In 2019, Square partnered with Marqeta to introduce the Square Card, a business debit card for small business owners that gives them access to earnings immediately and without additional fees, enabling cardholders to reinvest into their business. The Square Credit Card gives Square sellers access to a credit line that grows with their business volume. Marqeta’s 2026 State of Credit report found that 96% of small and medium-sized businesses (SMBs) surveyed are intentional about which payment methods they use for a given transaction, signaling demand for both credit and debit offerings. In addition, the research found that 34% of SMBs surveyed have moved between credit products as their business evolved, and 64% want a clear path from entry-level to advanced products, demonstrating the need for credit offerings to keep pace as small businesses grow.
“Square sellers depend on both credit and debit to run their businesses, and consolidating those programs onto Marqeta’s platform means we can move faster and safer on the products they need,” said Andrea Raj, Head of Product for Square Banking at Block. “Migrating our existing cardholders without any disruption to their experience was critical, and Marqeta delivered. This is a reflection of the strong partnership we’ve built together over the years.”
Marqeta's commercial credit platform delivers end-to-end capabilities, including card issuance and transaction processing, underwriting, rewards management, risk controls, and disputes, all within a single integration. The platform gives businesses granular spend controls, flexible account hierarchies, and real-time decisioning powered by more than 300 data attributes, enabling them to build differentiated credit programs tailored to the needs of their customers. Marqeta also supports full program management, including bank and network partnerships, regulatory and compliance reporting, customer service, and collections reducing the need for multiple vendors and accelerating time to market for customers. The addition of American Express® to Marqeta’s roster of network partners demonstrates its breadth of network capability and scale.
“Block is one of our deepest and most expansive partnerships, and the work we're doing together goes well beyond any single program,” said Todd Pollak, Chief Revenue Officer, Marqeta. “This launch is a strong example of what that partnership enables, bringing Square's full card portfolio onto one platform so they can build and iterate on credit products for small businesses faster than ever before.”