MILWAUKEE and SAN FRANCISCO— Fiserv has entered an exclusive partnership with Affirm to add pay-over-time features to debit card programs at U.S. banks and credit unions, expanding buy now, pay later access without requiring financial institutions to build new lending products, Fiserv said.
The move aims to help issuers respond to rising consumer demand for flexible payment options while keeping spending within their own card ecosystems.
The collaboration builds on the companies’ 2022 integration of Affirm into Fiserv’s Commerce Hub, which enabled BNPL at merchant checkout. Under the expanded agreement, Fiserv clients will be able to offer debit-based installment payments through a turnkey integration, with Affirm handling underwriting, loan origination, and funding. The technology will be embedded directly into Fiserv’s digital platforms, minimizing operational lift for banks and credit unions, Fiserv said.
Fiserv said the initiative is designed to increase debit engagement and transaction volume by allowing cardholders to split eligible purchases into fixed payments with clear repayment terms and no late or hidden fees. Consumers will be able to access Affirm’s financing options wherever debit cards are accepted, including across its network of roughly 420,000 merchants offering customized payment plans, including 0% APR promotions.
“Community and regional banks and credit unions want to meet evolving consumer expectations,” said Erik Wichita, head of card services at Fiserv, calling the partnership a scalable way to offer payment flexibility while strengthening primary financial relationships.
Affirm Chief Revenue Officer Wayne Pommen said the deal will help local financial institutions provide transparent installment options so customers can get flexible payments “from the banks and credit unions they already depend on.”