TAMPA, Fla.— USF Federal Credit Union said it has become the first in the Sunshine State to begin offering buy now, pay later (BNPL) services to its members. It said the offering addresses the “financial fragility of members who may normally turn to high interest credit-finance options or predatory lenders.”
The $1.1-billion USFFCU, which has partnered with equipifi on the offering, said it will now extend personalized BNPL offers to members on eligible debit card transactions, and that members will be able to view and accept pre-qualified BNPL offers within USF FCU’s digital banking experience.
“Our members trust us to provide solutions that will improve their lives, and they seek financial flexibility,” COO Richard Sellwood said in a statement. “equipifi’s BNPL platform helps us provide our members’ preferred payment method in their mobile banking app, and helps us to meet them where they are at any time in their financial journey.”
‘Impactful’ Offering
Added equipifi CEO and Co-founder Bryce Deeney, “With one in four consumers using BNPL in the last 12 months, this is an impactful way for credit unions to empower an entire member base. By launching BNPL, USF FCU is elevating its digital banking experience and debit cards to meet the current and future needs of its membership.”
How to Sign Up For the Best Daily News Email in Credit Unions? (It’s Free!)
Every workday CUToday.info delivers the most comprehensive, freshest daily newsletter with the day’s news headlines, including links to the related articles. The Fresh Today newsletter is the most timely, relevant and widely-read source of news and information in the CU community. And it’s free!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties,
And did we mention it’s free?