Square Enlists Marqeta for Its Business-Oriented Credit Card Program – Digital Transactions
Square has adopted services from card-issuing platform Marqeta for the Square Credit Card, a business card aimed at use by merchants. The card runs on the American Express network and is part of an effort by Square to consolidate its card programs into a single processor. Square, a unit of Block Inc., launched the card in 2023. It is aimed at merchants linked to Square’s acquiring services, offering a business line of credit.
Square’s Monday announcement follows Friday’s news of a similar deal between Marqeta and digital-currency platform Coinbase. That arrangement provides for Marqeta cards backed by stablecoins.
Monday’s news also heralds Square’s effort to move its debit, prepaid, and credit card services to a single processor, the San Francisco-based company says. The effort allows Square to transfer accounts and card credentials to Marqeta without creating payment issues for cardholders, both companies say.
“Migrating our existing cardholders without any disruption to their experience was critical,” says Andrea Raj, head of product for Square Banking, in a statement. “This is a reflection of the strong partnership we’ve built [with Marqeta] together over the years.”
Oakland, Calif.-based Marqeta’s platform handles card-issuing capabilities as well as transaction processing and other functions in a single connection, the company says. “Block is one of our deepest and most expansive partnerships, and the work we’re doing together goes well beyond any single program,” says Todd Pollak, chief revenue officer at Marqeta, in a statement. “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.”
Square, whose card-related programs including Square Checking and Square Credit Card, does not report figures such as number of cards or dollar volumes. Marqeta, which does business in more than 40 countries, reports it processed almost $400 billion in payments volume in 2025.
Square’s credit cards are issued by Celtic Bank through a license from AmEx. Its Mastercard-branded debit card is issued by Sutton Bank.
