NEWS HIGHLIGHTS

Marqeta now powers Square's credit card on the American Express® Network, extending its longstanding relationship with Block that includes Square’s debit and prepaid programs.
By consolidating debit and credit onto Marqeta’s end-to-end platform, Square has a single platform to build and iterate on card products for sellers.
Marqeta’s portfolio migration capabilities enable existing Square Card accounts to migrate onto Marqeta's platform without disrupting the cardholder experience.

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. 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."

About Marqeta

Marqeta (NASDAQ:MQ) enables payments innovation through its enterprise-grade modern card issuing platform. Spanning debit and credit offerings for both consumer and commercial, it provides card issuing and processing, credit services, accounts and money movement, risk and fraud, and user experience capabilities. The Company’s solutions and expertise provide customers with greater control and agility in issuing payment credentials and allow them to build and embed financial services into their branded experience. With compliance and security built-in, Marqeta’s end-to-end configurable platform is proven at scale, processing nearly $400 billion in annual payments volume in 2025 and certified to operate in more than 40 countries. To learn more, visit www.marqeta.com.

About Block, Inc.

Block, Inc. is a financial services platform and not an FDIC-insured bank.

Square Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard International Incorporated.

Square Credit Cards are issued by Celtic Bank, pursuant to a license from American Express. American Express is a registered trademark of American Express.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, Marqeta’s products and services and the benefits those products and services may provide to consumers; statements relating to the launch and performance of new programs and partnerships; and statements made by Marqeta’s senior leadership. In some cases, these forward-looking statements can be identified by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including those risks and uncertainties included in the "Risk Factors" disclosed in Marqeta’s Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.

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Media Contact

Jessica Miller

press@marqeta.com