SCOTTSDALE, Ariz., Oct. 4, 2022 /PRNewswire/ -- equipifi, a fintech company providing banks and credit unions with a white label Buy Now, Pay Later (BNPL) solution, announced its partnership with Member Access Processing (MAP), the nation's leading provider of the Visa DPS Debit, Credit, ATM, Prepaid, and Mobile Processing platform for credit unions. By partnering with equipifi, MAP's credit union clients will be able to offer BNPL solutions on their credit and debit transactions.
MAP serves more than 100 credit unions across nearly 30 states. In total, MAP's clients have more than 10 million members and over $100 billion in assets. Partnering with equipifi, MAP's credit union clients will be able to increase the value of their banking experience and grow member engagement. By leveraging their existing data and digital banking platforms, credit unions will be able to extend BNPL offers that are in alignment with their members' financial goals. Credit unions will also be able to grow existing lines of revenue and open new ones.
"Consumer financial needs are changing and so is the way they engage with their credit unions," said Cyndie Martini, president and CEO of MAP. "Buy Now Pay Later provides credit unions a strategic capability as well as a huge benefit to members. Members gain from the convenience and security of using their credit unions for BNPL in a safer and more reliable transaction."
"There's no denying the growing popularity of BNPL as an alternative form of payment for consumers looking for financial flexibility," said Bryce Deeney, CEO and cofounder of equipifi. "With 60 percent of American consumers having used BNPL at least once, and 70 percent preferring a solution from their primary financial institution, we're past due for a BNPL solution from credit unions."
About Member Access Processing (MAP)
Member Access Processing (MAP) is the nation's only card processing aggregator of the Visa Debit Processing Service platform for credit unions. MAP's special role in the marketplace provides our client credit unions the unique opportunity to leverage the technology, security, and service of Visa for their members. MAP is a subsidiary of Currencē Payment Solutions, a Credit Union Service Organization, with an unrivaled commitment to the credit union movement, where credit union are valued first and foremost. Working directly with Visa, MAP offers customized, turn-key Debit, Credit, ATM, Mobile, Prepaid-Reloadable, and Gift solutions — all supported by MAP's five-star training, support and service.