Block Picks Marqeta to Migrate Square Credit Card onto American Express Network

Block Taps Marqeta to Bring Square Credit Card onto American Express Network

Block has selected Marqeta to enable the Square Credit Card on the American Express network, according to an announcement published on October 19, 2026, via the Marqeta newsroom and distributed through Business Wire.

The move migrates the Square Credit Card onto Marqeta's card-issuing platform. Notably, Marqeta already powers Square's debit and prepaid programmes, meaning the credit card migration consolidates a broader portion of Square's card portfolio within a single issuer-processing relationship.

The selection extends an existing relationship: Marqeta already enables Square's debit and prepaid programmes, and the October 2026 announcement brings the Square Credit Card into that same platform arrangement — this time on the American Express network.

What Has Been Confirmed

The verified facts from this announcement are narrow but significant:

• Block selected Marqeta to enable the Square Credit Card on the American Express network
• The announcement was made on October 19, 2026, sourced from the Marqeta newsroom and a Business Wire press release
• The Square Credit Card is being migrated to Marqeta's card-issuing platform
• Marqeta already enables Square's debit and prepaid programmes prior to this migration
• The network for this arrangement is American Express

Editorial note: The full body of the Business Wire press release has not been independently read in its entirety. All confirmed facts derive from the headline, the Business Wire URL, and the Marqeta newsroom listing. Any claims beyond those facts — including specific executive statements or precise commercial terms — remain unverified and have been excluded from this report.

What the Network Choice Signals

The selection of American Express as the network for the Square Credit Card is a detail worth noting editorially. Most card-issuing arrangements in the fintech space involve Visa or Mastercard — a market observation that analysts and industry observers commonly make, though no specific source within this verified package quantifies that distribution. Readers should treat that framing as editorial context rather than a sourced claim.

Similarly, characterisations of American Express's approach to fintech issuer partnerships — sometimes described by market commentators as selective — fall outside the verified factual universe of this announcement and are not asserted here as established fact.

Marqeta's Existing Relationship With Block

The deepening of Marqeta's role within Block's card ecosystem is the clearest structural story here. Prior to this announcement, Marqeta's platform was already the infrastructure layer for Square's debit and prepaid offerings. Migrating the credit card product onto the same platform represents a consolidation rather than a wholly new commercial relationship.

Marqeta is a publicly listed card-issuing platform provider. Its SEC filings are publicly available through its investor relations pages, though specific figures from those filings — including any revenue concentration data — were not accessible for verification at the time of publication and are therefore excluded from this report.

Block's investor relations are publicly accessible at its investor relations page (investors.block.xyz). The package does not confirm any specific commercial or contractual terms governing the new arrangement.

Why It Matters

For the card-issuing infrastructure market, the announcement reinforces Marqeta's position as the platform underpinning multiple Square card products across different programme types. The addition of a credit card product — on a network distinct from those most commonly associated with fintech card issuance — adds a further dimension to that relationship.

For Block, consolidating Square's card programmes under a single platform provider may simplify operational and compliance workflows, though the specific rationale has not been confirmed from verified source material and should not be treated as an established claim.

Further details, including any executive commentary or commercial terms, may become available as the full press release text is published and verified. This report will be updated accordingly.

Sources: Marqeta newsroom (marqeta.com/company/newsroom); Business Wire (businesswire.com); Block investor relations (investors.block.xyz); Marqeta SEC filings index (investors.marqeta.com).