Reported Earlier: Block Expands Marqeta Partnership To Power Square Credit Card On American Express Network, Consolidating Debit, Prepaid And Credit Programs On One Platform

• 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.

OAKLAND, Calif.--(BUSINESS WIRE)--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.