Power Finance enhances customer engagement and loyalty for brands by providing personalized branded credit card programs that integrate into their mobile and web platforms. Their Software Development Kit (SDK) allows brands to customize the user experience while ensuring compliance with regulations. Unlike competitors, Power focuses on a B2B model, charging brands for the development and management of these programs, and offering targeted marketing services and shopper insights. The goal is to transform brand-customer interactions through comprehensive financial solutions.

Marqeta

Restive Ventures

Fin Capital

Financial Venture Studio

Sure Ventures

Anthemis Group

Plug and Play

Pareto Holdings

Charles River Ventures

Dash Fund

Fintech

Financial Services

Power Finance

Power’s infrastructure is designed for brands and banks to embed fintech products into existing mobile and web applications.

Fintech startup Power flexes its credit card muscle following $316M equity, debt injection

Card issuing company Marqeta has debuted a new credit card issuing platform.The launch, announced Monday (Oct. 23), adds intuitive credit card program management tools and creates a “one-stop shop” for rolling out consumer and commercial credit programs, the company said in a news release provided to PYMNTS.“With this launch, brands can create a new standard for credit cards that encourage greater customer loyalty with personalized rewards, completely owning the experience for their customers from end-to-end,” the release said.And personalized rewards are important, according to “Leveraging Item-Level Receipt Data: How Card-Linked Offers Drive Customer Loyalty,” a PYMNTS Intelligence-Banyan study.That report found that 65% of credit or debit card users say they prefer to shop with brands or merchants where they are loyalty or rewards program members. In addition, 34% of consumers said they were willing to try out new brands or merchants, while 23% are occasional shoppers who sporadically visit specific brands or merchants.Meanwhile, personalized card reward programs were especially appealing to consumers, with 40% saying they would like a card tailored to their needs and preferences.“Moreover, customers who have used these programs express high levels of satisfaction, especially when offers are tailored to their preferences, further giving merchants a chance to cultivate loyalty and encourage increased spending,” the report said.Simon Khalaf, CEO of Marqeta, said in the release that brands had already wanted to reach customers via laptops and mobile devices.And now, he added, “they have the opportunity to be in their wallet, as the credit card becomes a new launchpad of the digital experience.”“We believe this launch can help reimagine what a credit card can be, and show that beautifully designed, embedded credit cards can help innovative brands engage with customers in a whole new way,” Khalaf said.The company says its enhanced credit features are a result of its completed integration with Power Finance, which Marqeta purchased at the end of January in a $275 million deal.“We already see considerable demand for differentiated credit products from companies looking to innovate in this space who are held back by the constraints of legacy technology,” Khalaf, who had just been named CEO, said at the time.“We thoroughly examined possible acquisitions to more quickly establish Marqeta’s leadership in the modern credit space. It became clear to us that Power would strengthen Marqeta’s platform with a best-in-class tech stack for credit card program management.”

Marqeta Unveils Enhanced Credit Card Issuing Platform

Tuum and Marqeta have partnered to help European banks and FinTechs build flexible card programs.The combination of Tuum’s core banking solution and Marqeta’s digital payment experiences will enable Tuum to offer its customers a pre-integrated FinTech solution that will accelerate their time to market, Marqeta said in a Wednesday (June 21) blog post.“To keep up with the current pace, it’s becoming increasingly important for banks and FinTechs to offer modern digital payment experiences to consumers, and we’re excited to help them take this step through our collaboration with Marqeta,” Tuum Vice President of Global Partnerships Jean Souto said in the post.This partnership will help European banks and FinTechs build flexible card programs, deliver modern digital payment experiences, and do so with less time, money and resources than would otherwise be required, according to the post.“While our cloud-native, next-generation core banking platform gives them the security and reliability they need for the future, the pre-built integration allows them to create their own card programs and deliver highly personalized experiences to consumers,” Souto said in the post.The announcement of this partnership comes about six months after Marqeta acquired card management platform Power Finance in a $275 million deal.The deal aimed to “strengthen Marqeta’s platform with a best-in-class tech stack for credit card program management,” Marqeta CEO Simon Khalaf said when announcing the acquisition in January.“We already see considerable demand for differentiated credit products from companies looking to innovate in this space who are held back by the constraints of legacy technology,” Khalaf said at the time.The partnership also comes about a year and a half after Tuum raised about $16.9 million in a funding round to support product innovation and strengthen its presence in the United Kingdom and Europe.Founded in 2019 by banking and FinTech executives, Tuum provides what it calls a flexible and modular platform and says its cloud-based core banking network allows financial and non-financial companies to introduce products and services that meet customer needs, boost sales and build loyalty.In the year before that funding round, the firm saw its contracted annual revenue increase by more than three times

Tuum And Marqeta Partner On Flexible Card Programs

Marqeta stock dipped 4.2% Monday morning (April 3) after being downgraded by Morgan Stanley.The stock of the provider of card issuing and payment solutions was shifted from Overweight to Equal-weight by the investment bank and wealth management firm, Seeking Alpha reported Monday.Marqeta did not immediately reply to PYMNTS’ request for comment.Morgan Stanley said Marqeta faces growth headwinds over the next 12 months, including a growing share of its sales being accounted for by Square — which made up three-quarters of Marqeta’s sales in the fourth quarter — while the share held by other customers slipped, according to the report.The macroeconomic environment also contributed to the downgrading of the stock, as expense management and buy now, pay later (BNPL) face emerging headwinds, Morgan Stanley said, per the report.In addition, Marqeta’s acquisition of Power Finance has caused a reduction in pro-forma net cash, the report said.A week earlier, Wolfe upgraded the stock from Peer Perform to Outperform, saying that the market had underappreciated Marqeta’s business and that credit and embedded finance can drive both growth and margin, Seeking Alpha reported March 27.Marqeta announced Jan. 30 that it will acquire Power Finance, a cloud-native platform that provides companies with credit card management services when they launch new card programs, in a $275 million deal.The combination of the two companies’ platforms will allow customers to launch a range of credit products, merging their rewards technologies, Marqeta said at the time.“We thoroughly examined possible acquisitions to more quickly establish Marqeta’s leadership in the modern credit space,” said Simon Khalaf, Marqeta’s then-incoming CEO who took on that role the following day. “It became clear to us that Power would strengthen Marqeta’s platform with a best-in-class tech stack for credit card program management.”Marqeta had announced Jan. 26 that Khalaf, who had joined the company in June as chief product officer, would become CEO Jan. 31.When reporting earnings Feb. 28, Marqeta said BNPL volumes had slowed but remained in the double digits

Marqeta Stock Dips As Morgan Stanley Says Firm Faces Headwinds

Marqeta (NASDAQ: MQ), the global modern card issuing platform, announced today that it has entered into an agreement to acquire credit card program ma

Marqeta Announces Agreement To Acquire Power Finance, Inc.

Marqeta (NASDAQ: MQ), an Oakland, CA-based modern card issuing platform, entered into an agreement to acquire credit card program management platform Power Finance, Inc.

Marqeta To Acquire Power Finance, for $223M

LuckyTruck is launching a credit card built for small trucking companies and their fleet managers. . This will be the first credit card offered by the firm, which is an insurance and FinTech platform for small and medium-sized businesses (SMBs) in trucking, LuckyTruck said in a Wednesday (Dec. 7) press release. . “Trucking is a growing and capital intensive segment of the U.S. economy,” LuckyTruck CEO Julie Zimmer said in the release. “We recognize the need to unlock more cash flow for the 1 million-plus small and medium-sized trucking businesses in the country.”

Smb Insurance Platform Luckytruck To Launch Credit Card For Trucking

Power, a bold fintech startup with plans to reshape global commerce, has finally teased early progress as they emerge from stealth. The company was founded to build modern financial infrastructure and started by launching a full-stack credit card issuance platform. As leading enterprises across consumer, commercial, and banking categories look to deepen customer engagement and brand loyalty, Power provides the infrastructure for these companies to offer premium fintech experiences fully embedded within their digital properties

Fintech'S New Player Power Emerges From Stealth

With $16.1M in Seed funding, a $300M credit facility, and a fast-growing list of customers, Power emerges from stealth. NEW YORK, Sept. 14, 2022 /PRNewswire/ -- Power , a bold fintech startup with plans to reshape global commerce, has finally teased early progress as they emerge from stealth

Fintech'S New Power Player

Offers branded credit card programs for brands

Power Finance

Offers branded credit card programs for brands

Power Finance

Offers branded credit card programs for brands

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