Slope Launches Commercial BNPL Card Powered by Marqeta
Slope launched a commercial buy now, pay later (BNPL) card solution powered by Marqeta.
The new Slope Card enables brands and marketplaces to allow their B2B customers to pay in-store or online with 30- or 60-day loan options, the companies said in a Thursday (Dec. 12) press release.
“Marqeta allows us to deliver flexible and scalable BNPL solutions that provide businesses with timely access to low-interest loans,” Slope CEO and co-founder Lawrence Lin Murata said in the release. “Together, we’re driving a transformative approach to financial management, empowering businesses with easier access to working capital when they need it most.”
Slope provides the invoice-to-pay solution that furniture retailer IKEA U.S. began rolling out in August to offer flexible payment options to its business customers.
The payment option provided by Slope eliminates the manual process of traditional invoicing, offers business owners access to capital with 30-day net terms and provides a streamlined checkout experience.
“Our partnership with Slope represents a step forward in our commitment to supporting small- to medium-sized businesses in the communities we serve,” IKEA U.S. Chief Commercial Officer Jordi Esquinas Gimenez said in an Aug. 29 press release.
Slope’s commercial BNPL card solution enhances the ability of its clients to offer fast, secure and flexible digital payment options to their SMB customers, Marqeta Chief Revenue Officer Todd Pollak said in the Thursday press release.
The solution is powered by Marqeta’s card issuing platform that enables embedded finance solutions, according to the release.
Marqeta’s technology allows companies to put their own brands front and center while providing the embedded, mobile payments experiences consumers expect, per the release.
“This is another example of how Marqeta is pioneering the responsible transformation in payments to enable brands to offer embedded finance solutions that unlock purchasing power for businesses whenever needed,” Pollak said in the release.
Marqeta reported in November that during the third quarter, it saw year-over-year increases of 30% in total processing volume, 18% in net revenue and 24% in gross profit.
During a Nov. 4 earnings call, Marqeta CEO Simon Khalaf attributed the results to operational discipline and the launch of innovative new products.
For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.
The post Slope Launches Commercial BNPL Card Powered by Marqeta appeared first on PYMNTS.com.