equipifi, a fintech company that provides a Buy Now, Pay Later (BNPL) solution to banks and credit unions, has announced a partnership with Member Access Processing (MAP), the nation’s leading provider of Visa debit, credit, ATM and prepaid DPS. , and the Mobile Processing platform for credit unions. In partnership with equipifi, MAP credit union customers will be able to offer BNPL solutions for their credit and debit transactions.
MAP serves more than 100 credit unions in nearly 30 states. In total, MAP customers have more than 10 million members and more 100 billion dollars in assets. By partnering with equipifi, MAP credit union customers will be able to add value to their banking experience and enhance member engagement. By leveraging their existing data and digital banking platforms, credit unions will be able to expand BNPL’s offerings to meet their members’ financial goals. Credit unions will also be able to grow existing revenue streams and open new ones.
“Consumers’ financial needs are changing, and so is the way they interact with their credit unions,” he said Cindy Martini, president and CEO of MAP. Buy Now, Pay Later provides credit unions with strategic opportunities as well as great benefits for members. Members will benefit from the convenience and security of using their credit unions for BNPL in a safer and more reliable transaction.”
“There is no denying the growing popularity of BNPL as an alternative form of payment for consumers looking for financial flexibility,” said Bryce Deeney, CEO and co-founder of equipifi. “With 60 percent of U.S. consumers having used BNPL at least once, and 70 percent preferring a solution from their primary financial institution, we are overdue for a BNPL solution from credit unions.”