Businessmen holding a smartphone with icons of BNPL with online shopping icons technology Source: Adobe Stock

A new partnership between fintech company equipifi and card processing aggregator Member Access Processing (MAP) will bring the fintech's white-labeled Buy Now, Pay Later (BNPL) solution to MAP's more than 100 credit union clients across 30 states, the two organizations announced Wednesday.

MAP, a Kent, Wash.-based CUSO, works directly with Visa to offer credit unions customized debit, credit, ATM, mobile payments, prepaid/reloadable and gift card solutions. The integration with equipifi's platform will enable MAP clients – which collectively serve more than 10 million members and have more than $100 billion in assets – to offer members BNPL solutions on their credit and debit transactions, according to the announcement.

The organizations emphasized that the added service will allow credit unions to target members with personalized BNPL offers based on their existing member data, as well as to increase revenue.

"Consumer financial needs are changing and so is the way they engage with their credit unions," MAP President/CEO Cyndie Martini said. "Buy Now Pay Later provides credit unions a strategic capability as well as a huge benefit to members. Members gain from the convenience and security of using their credit unions for BNPL in a safer and more reliable transaction."

Bryce Deeney, CEO and cofounder of equipifi, stated, "There's no denying the growing popularity of BNPL as an alternative form of payment for consumers looking for financial flexibility. With 60% of American consumers having used BNPL at least once, and 70% preferring a solution from their primary financial institution, we're past due for a BNPL solution from credit unions."

equipifi is based in Scottsdale, Ariz., and works with both banks and credit unions to integrate its BNPL solution directly into their existing mobile banking apps.

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Natasha Chilingerian

Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.