Payments

SWBC partners with equipifi to deliver buy-now-pay-later to banks

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April 25, 2023

SWBC, a financial services company, has partnered with fintech equipifi to provide financial institutions with a buy-now-pay-later solution. With this solution, banks can integrate BNPL on their digital apps to help debit cardholders split up larger purchases, according to a press release.

"We are thrilled to work with such an innovative and forward-thinking team who shares our passion for bringing timely solutions to the market," Wanita Kaupert, EVP of product management for SWBC's Financial Institution Group, said in the release. "Cash flow is more critical than ever, especially with so many credit union members experiencing negative wages in the current economic conditions. By partnering with equipifi, we can provide our clients with a solution that offers their members greater purchasing power, while managing their finances more effectively."

With this service, banks can deliver these BNPL offers to meet financial goals, by leveraging existing data.

"With the growing adoption of BNPL and the need for payment flexibility, financial institutions are tapping into a key shift in consumer behavior by unlocking split payments on debit cards," Bryce Deeney, CEO and co-founder of equipifi, said in the release. "Working with SWBC, we look forward to mass enabling this powerful acquisition and retention tool for financial institutions and raising the bar for consumer debit cards."