Bread Financial Launches One-Time Use Virtual Card With Marqeta

marqeta, bread financial, payments processing, cloud

Financial services firm Bread Financial is launching a one-time use virtual card for in-store and online shopping with card issuing platform Marqeta.

The virtual card will boost the checkout experience for people using Bread Pay, Bread Financial’s suite of Buy Now, Pay Later (BNPL) solutions, according to a press release emailed to PYMNTS on Monday (Sept. 12).

With Marqeta’s platform, Bread will launch the Bread Pay One-Time Use Card, providing people with multiple payment options, including Pay in 4 and installment loan products in-store and online. People shopping at participating retailers don’t have to download another app to use any Bread Pay product.

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“Bread Financial is at the forefront of innovation in the BNPL space, and this relationship is a continuation of our dedication to create tech-forward and industry-changing solutions that give shoppers more flexibility and choice,” said Val Greer, EVP and Chief Commercial Officer at Bread Financial. 

Greer added that teaming with Marqeta for new payment options will keep the “merchant’s brand at the forefront of the path to purchase” while also giving the user a “more seamless experience.”  

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Bread Financial works with over 600 retailers in numerous verticals and will use a cross-section of offerings Marqeta provides on its platform, including virtual card issuance, Just in Time Funding Capabilities and tokenization innovations, according to the press release. 

“Consumers demand flexible and convenient payment solutions, and growing demand for BNPL  has led merchants across industries to look into new ways to offer that flexibility,” said Simon Khalaf, Chief Product Officer at Marqeta. 

“Marqeta is constantly evolving our platform and seeking ways to offer our customers the latest advancements in payments. We’re excited to work with Bread to streamline its BNPL offering and make it simpler for customers to implement BNPL across their checkout experiences,” he added.