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.”

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