Block selects Marqeta to enable Square credit card

Block (formerly Square) has partnered with Marqeta to power its new Square Credit Card. This is a significant move for small business owners who already use Square for payment processing. The card runs on the American Express network and aims to give merchants faster access to their earned capital. For you as a retailer, this represents a shift toward more integrated financial tools. You can now manage your sales, customer payments, and business expenses within a single ecosystem. The technology behind this allows for real-time credit limits based on your actual sales volume rather than just a static credit score. This is particularly helpful for seasonal businesses in industries like home improvement or automotive where cash flow fluctuates. The card integrates directly with your Square Balance, meaning you can spend the money you made earlier the same day. While this specific news focuses on your business credit, it signals Square’s commitment to keeping merchants within their ecosystem. Expect more seamless connections between the money you collect from customers and the money you use to fund your operations. Using a single platform for both point-of-sale and business financing can simplify your bookkeeping and potentially provide better terms based on your sales data.

Source: Finextra — Lending

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