Perpay Taps Marqeta To Power Consumer Credit Card

May 07, 2025 at 07:00 AM EDT

By migrating the Perpay Credit Card to Marqeta’s modern credit platform, Perpay intends to scale its offering with additional flexibility and control to meet the needs of its growing customer base.

Marqeta, Inc. (NASDAQ: MQ), the global modern card issuing platform that enables embedded finance solutions for the world’s innovators, today announced it has been selected by Perpay to power the Perpay Credit Card (issued by Celtic Bank), an unsecured credit card designed to help people build or improve their credit by automating payments directly from a paycheck. Perpay migrated to Marqeta’s modern credit card platform to build a credit card experience that helps meet its goal of enabling customers to get the most out of every paycheck.

The Perpay Credit Card allows users to directly link their paychecks, ensuring their card balance is paid automatically and helping them stay on top of their financial commitments and build their credit. To expand its credit card offering, Perpay needed a card issuing platform with the speed and flexibility to reach more consumers and elevate the user experience. By deploying the Marqeta platform, Perpay can scale its credit card offering while maintaining full control over the user experience and access in-depth customer insights and modern credit capabilities to drive more meaningful interactions with customers. Perpay’s migration to Marqeta’s platform highlights the increasing demand for modern credit solutions that offer the scalability and flexibility to truly meet the needs of end users.

“Perpay is on a mission to help people access vital spending power and build credit, and we needed an issuing partner who could keep pace,” said Chris DiMarco, CEO of Perpay. “By migrating our credit card offering to Marqeta, we’re delivering a smoother, more personalized experience that scales with our growth and gives customers the flexibility they deserve.”

Marqeta’s all-in-one credit platform allows Perpay to deliver a fully integrated digital-first cardholder experience that aligns with Perpay’s brand. Perpay can unify and customize every touchpoint, from application to card issuance to everyday spending and account access, to foster deeper engagement and loyalty. Marqeta’s platform allows Perpay to instantly issue virtual and tokenized cards for immediate use and access real-time cardholder data and spend controls that provide insights into how users are spending their money to help them stay on top of their finances. Additionally, Marqeta’s flexible rewards engine allows Perpay to enhance its rewards offerings, accessing individual spend data and insights to offer personalized rewards that help users earn more to spend within Perpay’s marketplace and keep customers engaged.

“The Perpay Credit Card stands out as a noteworthy example of how Marqeta makes it possible to meticulously craft a credit card to meet consumer needs,” said Todd Pollak, Chief Revenue Officer of Marqeta. “By tapping into the full potential of our credit platform, Perpay is able to customize its credit card experience and expand its offering to deliver greater value to its customers.”

About Marqeta (NASDAQ: MQ)

Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing nearly $300 billion in annual payments volume in 2024. Marqeta is certified to operate in more than 40 countries worldwide. Visit www.marqeta.com to learn more.

About Perpay

Perpay exists to make paychecks work harder for the people who earn them. As a mission driven company, Perpay helps working Americans with non-prime credit scores purchase what they need and build credit through automatic payments from their paycheck. Perpay's products are designed with the customer in mind, and are meant to reduce financial stress and expand economic access.

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, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; and 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.