Today we announced a new partnership with Scalapay, Southern Europe’s leading Buy Now, Pay Later (BNPL) provider, to leverage Marqeta’s platform to issue cards both online and in-store. We’ve signed a five year exclusive contract with Scalapay, where Marqeta will issue virtual cards for online and in-person transactions, creating a more seamless payments experience for both merchants and consumers.
As Italy’s first fintech unicorn, Scalapay has seen significant momentum since it was founded in 2019, and has raised over $727 million in funding to-date. With more than 5,000 stores and 7,000 physical points of sale, Scalapay’s pay in 3 or 4 installments’ products reaches more than 5 million users across Europe. Scalapay merchants have seen a 48% increase in average order value, increased cart conversion, and decreased abandonment rates. In addition, we’ll help accelerate merchant onboarding by reducing friction at the point of sale and creating a faster and more seamless experience for their end users.
"We are constantly seeking new ways to leverage modern payment technologies with the aim of creating a seamless experience for our customers. Marqeta's technical acumen and scalable platform are an ideal partner for us in supporting our partners to create better shopping experiences for their customers." said Simone Mancini, CEO, Scalapay.
