Case Study: Financeit achieves real-time, on-demand point-of-sale financing and reduced fraud with Marqeta’s Just-in-Time Funding

How Visa Prepaid cards enabled with Just-in-Time Funding from Marqeta are transforming the customer experience. Approval – Funds are moved to the Financeit Visa Prepaid card in real-time for the exact amount of the purchase and the transaction is approved

Financeit, a point-of-sale lender, faced the challenge of delivering on-demand installment loans at the moment of purchase while minimizing fraud and avoiding manual pre-funding. Working with Marqeta, Financeit deployed Visa Prepaid cards powered by the Marqeta platform and its Just-in-Time Funding capability (via Marqeta’s open API) to instantly issue and authorize cards for customers at checkout.

Marqeta’s Just-in-Time Funding issues and funds Visa Prepaid cards in real time, calls Financeit’s customized business rules during authorization, and moves the exact transaction amount from Financeit’s reserve when approved. The result for Financeit is explicit, real-time control over every authorization, reduced fraud risk, improved cash-flow management, and greater operational efficiency by eliminating pre-funding — unlocking additional retailer sales and new revenue opportunities enabled by Marqeta.

Financeit

Michael Garrity

Chief Executive Officer