Marqeta, the open API payment card issuing platform, and Progressive Leasing, a virtual lease-to-own company, have announced a technology partnership that will enhance the checkout process for Progressive Leasing customers.
Progressive, a division of Aaron’s, Inc., is one of the largest players in the lease-to-own industry. In seeking a partner to provide innovative solutions to help build their future payment checkout roadmap, Progressive will work with Marqeta to issue virtual cards at the point of sale and to create additional innovative payment offerings.
“We’re excited to partner with Marqeta as we unlock new payment experiences for our customers,” said Christian Matsumori, vice president of product at Progressive Leasing. “The Marqeta platform provides us with flexible APIs to build our solutions, and we’re looking forward to the potential innovations we can create together in the years to come.”
With the partnership, Marqeta will enable Progressive Leasing to take advantage of a wide range of modern features, including virtual card issuance, tokenization, and its patent-pending Just-in-Time (JIT) Funding, allowing Progressive Leasing to authorize and reconcile transactions in real time.
Marqeta is the first modern card issuing and core processing platform, powering prepaid, debit and credit cards for the world’s top commerce innovators.
“Marqeta’s platform serves lease-to-own financing companies in differentiated ways, and we couldn’t be more excited to work with a leader in the space,” said Jason Gardner, CEO of Marqeta. “As an innovator in the payments space, we’re looking forward to partnering with Progressive Leasing to enhance customer experiences that take their business to the next level with new payment offerings.”