Never underestimate the impact of providing a little extra funds in a timely way.
equipifi is revolutionizing the power of Buy Now, Pay Later (BNPL) through financial institutions. With equipifi 2.0, our platform extends beyond traditional post-purchase BNPL on debit card purchases (Split Your Payments) to include pre-purchase BNPL (Plan Your Purchase) for all checking accounts.
Plan Your Purchase offers a seamless and user-friendly experience by generating personalized installment loans that are automatically approved based on the borrower's existing relationship with their credit union or bank. This eliminates the need for a credit check or lengthy application process. Consumers can easily select the amount they need, choose their preferred repayment terms, and accept the loan—all within their digital banking app. The funds are instantly available in their checking account, ready to use.
This new approach offers several key advantages over legacy consumer credit products:
With equipifi 2.0, financial institutions can provide their customers with a modern, flexible, and transparent borrowing solution that meets the on-demand solutions we see today. The easy-to-use mobile experience embedded in their existing online banking app better fits the younger generations preference to consume digitally.
Here’s how that works.
Imagine you're planning an upcoming family vacation. When looking to book flights, your budget for the month feels stretched. This is where equipifi BNPL 2.0 becomes your financial ally.
With equipifi BNPL 2.0, you can log into your online banking experience and use:
When planning a significant event, or when unexpected expenses arise, these larger purchases can impact your entire budget and create financial stress. BNPL provides a practical solution for managing these moments effectively.
When equipifi launched in 2022 with our flagship product, post-purchase debit card BNPL enabled financial institutions to convert eligible debit card transactions into installment loans. For the first time, millions of consumers—especially Millennials and Gen Z—turned to their home banking in their digital banking app to stretch their budget and finance larger purchases. Our partner financial institutions provided safer and more intuitive access to financial flexibility while growing engagement, loans, and interest income.
We’re excited to provide this comprehensive platform to our partner financial institutions, so they can become the home banking solution consumers are looking for. With equipifi BNPL 2.0, access to flexible, transparent financing is always just a few clicks away, making it easier for consumers to manage their finances and achieve their goals.