Marqeta Expands Block Partnership to Power Square Credit Card on American Express Network

Square has migrated its business credit card program to Marqeta, consolidating its entire card portfolio—including debit and prepaid—onto a single modern issuer processor. For fintech professionals, this move signals a shift toward unified platform architectures that reduce operational complexity while leveraging the American Express network to scale credit offerings for small businesses.

What was announced

Marqeta is now powering the Square Credit Card, a dedicated business credit solution for sellers operating on the American Express Network. This move allows Square to consolidate its various card programs—spanning debit, prepaid, and credit—onto Marqeta’s modern issuer processor. By unifying these streams, Square aims to reduce operational overhead and accelerate the deployment of new credit features. The transition includes a full portfolio migration, moving existing account credentials to the new platform without interrupting service for cardholders.

This expansion builds on a relationship established in 2019 when the two companies launched the Square Card, a business debit tool providing immediate access to earnings. The decision to deepen this integration is supported by Marqeta’s 2026 State of Credit report, which indicates that 96% of small and medium-sized businesses (SMBs) are highly intentional regarding their choice of payment methods. The research further highlights that 34% of SMBs have moved between credit products as their business evolved, and 64% seek a clear progression from entry-level to advanced credit products as their operations scale.

Marqeta’s commercial credit platform provides Square with end-to-end functionality, including card issuance, transaction processing, and rewards management. The system utilizes more than 300 data attributes for real-time decisioning and offers granular spend controls. Additionally, Marqeta manages the underlying bank and network partnerships, alongside regulatory reporting and collections, to streamline the path to market for its customers.

"Square sellers depend on both credit and debit to run their businesses, and consolidating those programs onto Marqeta's platform means we can move faster and safer on the products they need.”

Andrea Raj, Head of Product for Square Banking at Block

The companies involved

Marqeta operates as a modern card issuing platform, providing the infrastructure for businesses to create customized payment programs. The company has established a significant presence in the fintech sector, with FF News tracking its developments across 83 previous reports. Block, the parent company of Square, has evolved from a point-of-sale hardware provider into a comprehensive financial services ecosystem for both consumers and merchants. Block’s integration of banking services through Square highlights its strategy to provide a closed-loop financial environment for small businesses. American Express, which provides the network for the Square Credit Card, remains a dominant force in the global payments landscape. Known for its premium credit offerings and extensive merchant network, American Express has been a frequent subject of analysis at FF News, appearing in 112 stories. The collaboration between these three entities represents a convergence of modern issuing technology, merchant-focused financial services, and established global payment networks.

What FF News has reported before

Marqeta has recently focused on expanding its card issuing capabilities into the digital asset space. FF News reported on how Marqeta and Coinbase Partner to Launch Stablecoin-Backed Cards for Global Spending, showcasing the platform's flexibility beyond traditional fiat currencies. Meanwhile, American Express has been active in developing frameworks for the future of automated commerce. The network recently introduced the American Express Launches Intent Intelligence Framework to Secure AI-Driven Agentic Commerce, aimed at securing autonomous transactions. This followed the release of a strategic guide for businesses, as American Express Unveils Business Playbook to Navigate the Rise of Agentic Commerce. These developments indicate a broader trend of incumbents and fintechs alike preparing for more sophisticated, data-driven transaction environments.

What this means

This consolidation marks a significant win for Marqeta, proving its ability to handle complex migrations for high-volume partners like Block. For the wider industry, it highlights the growing pressure on legacy processors as major fintechs move toward single-platform architectures to gain agility. By housing debit and credit under one roof, Square can theoretically offer more sophisticated "bridge" products that transition users from simple debit to complex credit lines based on real-time cash flow data. The move puts traditional commercial banks on notice; if fintechs can offer seamless, integrated credit products backed by the prestige of the American Express network, the barrier to switching away from traditional business banking continues to erode.