equipifi | Debit card BNPL & pay-over-time financing

Same debit cards, more flexibility

Consumers are looking for payment solutions that stretch their budget, and provide better flexibility and control when making everyday purchases. equipifi enables financial institutions that launch flexible card programs to:

Provide purchase financing capabilities on existing debit cards
Generate interest income on debit products
Meet consumers where they are with their purchasing power

Keeping your cards top-of-wallet

Pay-over-time is a must-have for modern card products. With over 8% of debit cards issued by fintech offering flexible payments, consumers increasingly expect installment capabilities on the cards they use to pay. Flexible card programs with equipifi are:

Merchant agnostic, used wherever debit cards are accepted
Omnichannel, for in store and online purchases
Competitive with third-party BNPL beyond checkout

An integrated banking experience

Designed to deepen banking relationships, equipifi’s cash flow accounts direct consumers to the banking app to view, accept, and manage their offers for extra funds. Consumers are more likely to:

Turn to their banking app to budget for and finance purchases
Increase the value of their digital engagement through repeat program usage
Discover other banking products beneficial to their purchase decisions

How does it work?

No credit check. No application. Fully automated.

Use existing debit cards

Once linked to the program, all debit cards have flexible payment capabilities. Customers and members can continue to use their same cards wherever they make purchases.

Receive installment loan offer

When a transaction is complete, equipifi’s platform determines pay-over-time eligibility in real-time. Consumers receive pre-qualified offers for eligible purchases in the banking app.

Accept and get funded

Flexible funding offers can be viewed and accepted in seconds. The selected amount is then deposited in moments, and the consumer's purchasing power is recalculated.

Case Study

Openland Credit Union countered cash flow loss and drove engagement with a flexible debit card program

Consumers are repaying third-party BNPL loans with their debit cards. Flexible card programs keep cash flow in-house while growing engagement and interest income.

Challenge

Openland Credit Union saw members using debit cards to make payments on their BNPL loans from third-party providers. They wanted flexible financing to come from the credit union, so that debit cards drove engagement and income instead of losing cash flow to external providers.

Solution

Once Openland’s flexible debit card program was live, members organically adopted this safer and lower interest rate option, taking out multiple loans with repeated use. In less than 30 days, more members were using Openland’s solution than they were using all third-party BNPL services combined. Usage has continued to climb every month.

FAQs

Who writes the loans that finances these plans? You do. equipifi is the platform that enables, embed, and automates the processes that provide flexible funding. The installment loans that finance these loans are originated and serviced by your institution.

How soon can I expect to see usage? Most financial institutions see immediate organic discovery and usage of the program upon going live. equipifi provides automated offer notifications, seasonal marketing campaigns, and other growth tools to help drive awareness and adoption.

Can I brand my program to fit internal naming conventions? Yes. Your solution is white labeled and fully branded. The default naming convention for cash flow accounts is Plan Your Purchase, but it can be adjusted to your preferred program name.

Can I set limits on how much can be borrowed through the program?

equipifi’s platform help you make your program work for you. Parameters can be adjusted on both account and institutional levels so that you are generating offers that are aligned with your risk tolerance and institutional goals.

Can this program be launch with other solutions?

Yes. In fact, flexible payment is most effective when launched across multiple banking products. equipifi customers see higher engagement and program ROI with expanded use cases and availability.

You can expand your flexible payment program at any point, with no additional integration needed. equipifi will calculate and update purchasing power based on a consumer’s usage of available equipifi products across your banking solutions. To learn more, reach out to sales@equipifi.com.

What if a loan isn’t paid?

Like an unsecured loan, if a flexible funding loan is unpaid, it will enter the same workflow as other loans that become delinquent within your financial institution. Typically, consumers that have loans in delinquency will no longer receive flexible funding offers. Program parameters are modifiable based on your institutional preference.