Progressive Leasing and Marqeta Partner to Power New Lease-to-Own Financing Experience

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Partnership provides Progressive Leasing with most modern payment features available

OAKLAND, Calif.--(BUSINESS WIRE)-- Marqeta, the open API payment card issuing platform, and Progressive Leasing, a virtual lease-to-own company and a division of Aaron’s, Inc., today announced a technology partnership that will enhance the checkout process for Progressive Leasing customers.

As one of the largest players in the lease-to-own industry, Progressive Leasing sought a partner who could support their needs today and provide innovative solutions to help build their future payment checkout roadmap. Through the partnership, Marqeta will enable Progressive Leasing to issue virtual cards at the point of sale and work with them 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’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.”

About Aaron’s, Inc.

Headquartered in Atlanta, Aaron’s, Inc. (NYSE: AAN) is a leader in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories. Aaron’s, Inc. currently has more than 1,930 company-operated and franchised stores in 47 states and Canada. Aaron’s was founded in 1955, has been publicly traded since 1982 and owns the Aarons.com, ProgLeasing.com, and HELPcard.com brands. Progressive Leasing, a leading virtual lease-to-own company, provides lease purchase solutions through approximately 22,000+ retail locations in 46 states. Dent-A-Med, Inc. (DAMI), d/b/a the HELPcard®, provides a variety of second look credit products that are originated through a federally insured bank. For more information, visit www.aarons.com.

About Marqeta

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 advancements represent the first fundamental updates in the past twenty years to card issuing platforms, a $30 trillion addressable market covering all possible cardable spending. Marqeta employs more than 170 people and is headquartered in Oakland, California. For more information, visit Marqeta on our website, Twitter, and LinkedIn.