Global modern card issuing platform Marqeta (NASDAQ:MQ) today announced a new partnership with Scalapay, Southern Europe’s leading BNPL provider, to leverage Marqeta’s platform to issue cards both online and in-store.

Marqeta and Scalapay have signed a five year exclusive contract, where Marqeta will issue virtual cards for online and in-person transactions, creating a more seamless payments experience for both merchants and consumers.

The flexibility of the Marqeta platform further enhances the shopping experience provided by Scalapay. By leveraging Marqeta’s innovative Just-in-Time Funding feature, once a Scalapay consumer is approved for their loan and completes a purchase, a virtual card is instantly created and funded for the exact loan amount.

This card can be immediately used for payments both online and in-store through a digital wallet and via the existing checkout or POS, thereby expanding exponentially the number of partners where customers can finance their purchases.

“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.

Scalapay has seen significant momentum since it was founded in 2019, and has raised over $727 million in funding to-date.

Marqeta will 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’ve seen customer demand for flexible payments continue to grow, and we’re proud to power Scalapay as they create more seamless shopping experiences for their users and help their merchants increase adoption,” said Todd Pollak, Chief Revenue Officer, Marqeta. “As more companies embrace new checkout options, we’re well-positioned to continue our momentum in Europe and work closely with our customers to deliver high-quality, innovative payments offerings.”