BNPL SaaS provider equipifi has announced a new deal with the Associated Credit Union of Texas (ACUT).
ACUT is just one of the unions that equipifi has been in touch with over the last 12 months in a bid to deploy BNPL integration to as many clients as possible.
As of now, equipifi reports that 70% of BNPL users in the US prefer a BNPL solution that is provided directly by their primary financial institution, and that credit union-led BNPL offerings are a response to that.
Furthermore, the partnership is said to specifically focus on “the growing concern over the missing guardrails for consumer safety and financial wellness”.
Clay Franks, President of ACUT, said: “We are delighted to have BNPL available on our membership. This gives our members more financial choice when it comes to how their purchases affect their accounts and more flexibility in the way they make payments on those purchases.”
Equipifi has also stated that the partnership represents “the first time” that credit unions have been given the opportunity to confirm eligibility through data from the banking core while offering BNPL to debit-cardholders through a digital banking app at the same time.
Bryce Deeney, CEO and Co-Founder of equipifi, added: “The entry of credit union-led BNPL solutions has the potential to change the industry.
“BNPL grew 25% last year from third-party solutions alone. Credit union BNPL on the debit card rail can leverage existing member relationships and knowledge to expand the addressable market by multiples in a member-friendly way.”
