equipifi | Split Your Payments | Post-purchase BNPL for FIs

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What is Split Your Payments?

Build breathing room into your banking experience

60% of consumers live paycheck to paycheck across income bands. An unexpected expense can quickly throw budgets off track.

Split Your Payments helps consumers get their purchase amount back for eligible debit card transactions, and pay for it over time.

Same purchase. On their terms.

Split Your Payments serves consumers after the transaction. Through installment loans, you help consumers manage how larger purchases impact their finances. 

You already know they can afford the expense. Now give them purchasing power.

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Deliver auto-magically

New solutions, not new behaviors

Same cards

Enhance existing payment methods with flexibility. No new cards or activation.

Same accounts

Avoid another onboarding.  Give consumers reasons to love the account they have now.

Same logins

Zero obstacles to get started. Embed Split Your Payments in the digital banking experience.

Accuracy with cash flow underwriting

Credit scores weren't built for the way people actually manage money today. equipifi’s platform uses real-time cash flow to understand what consumers can truly afford, so that all eligible debit card holders receive flexible payment offers that suit their needs.

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Designed to say “yes”

Remove application and rejection from the lending process. Preset your own limits and parameters on equipifi’s platform to determine eligibility for Split Your Payments. All offers are pre-qualified, and are only visible to those who have them.

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GEN Pay by GFCU

GEN Pay provided members self-service financial relief for unplanned out-of-budget moments

Generations FCU (GFCU) wanted to be the one-stop shop for all of its members’ banking needs. When more and more members started using third-party BNPL solutions, GFCU knew it had to launch a competitive product in-house.

GEN Pay was launched as an in-house flexible card program for GFCU’s debit cards. The program saw high engagement in its first year, allowing GFCU to meet members at important financial moments.

Connect with one. Unlock them all.

equipifi’s flexible payments platform is priced based on usage after initial integration.

Post-Purchase BNPL serves one of many use cases on the entire purchase-to-payment journey. Once connected to Split Your Payments, you open the door to a full suite of flexible payment products operating on the same integration, so you can easily meet consumers at every stage of their financial journey.

FAQs

Who writes the loans for Split Your Payments? You do. equipifi is the platform that enables, embeds, and automates the processes that provide flexible payment programs like Split Your Payments. The installment loans that finance these purchases are originated and serviced by your institution.

How is eligibility determined? Eligibility for Split Your Payments offers is determined based on a variety of account and transaction level inputs, set by your financial institution to align with your internal goals and risk tolerance. Our out-of-the-box settings are designed to serve mainstream consumers with moderate profiles and consistent cash flow. Credit scores are not necessary to determine eligibility.

How long does it take to go live?

We’re integrated with most major banking cores and digital banking platforms, and have turnkey guides and an onboarding process designed to get you up and running fast. Our standard go-live process takes place over 8 weeks and requires a total of 10 hours from your internal team, but can vary depending on the complexity of your existing banking technology. Financial institutions have gone live in as little as 32 days!

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How can I manage delinquency risks?

As a flexible payments platform, equipifi allows you full access to your program parameters so that you can determine your program settings and limits based on your institutional goals and risk tolerance.

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Can I rename Split Your Payments?

Yes. Your solution is white labeled and fully branded. The default naming convention for flexible card programs is Split Your Payments, but it can be adjusted to your preferred program name.

Is Split Your Payments for CDFIs?

Yes. Split Your Payments can be set to align with your institutional goals as a Community Development Financial Institution (CDFI).

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Is Split Your Payments available for credit cards?

Split Your Payments is currently available on debit cards only. Most engagement and deposit loss to third-party providers today are through debit cards, and research shows that installment programs are primarily a debit card product. If you want to learn about how installment loans and cash flow underwriting can benefit credit card users at your financial institution, reach out to hello@equipifi.com