FedFinancial Federal Credit Union has announced that it has added SpendFlex, a BNPL solution, to its suite of online banking products. FedFinancial FCU has selected equipifi, a BNPL SaaS designed for financial institutions, to power this solution.

By connecting equipifi to its banking core and mobile app, SpendFlex extends personalised offers to members that align with their financial health on eligible debit card transactions. FedFinancial FCU's members will be able to access SpendFlex to view and accept offers within seconds. The press release states that its credit union is committed to providing valuable financial solutions to federal employees and require flexible spending tool provided by their trusted financial institution.

equipifi's BNPL solution is intuitive for FedFinancial FCU's members and easy to manage, so it can provide immediate financing opportunities at an interest rate much lower than members would receive elsewhere. BNPL is a convenient payment method that consumers would prefer from their primary financial institution. Credit unions like FedFinancial FCU are rolling out BNPL as a long-term commitment to their members and their evolving payment preferences.

BNPL programs grew 25 percent in transaction value last year and are projected to surpass USD 100 billion by 2024. According to the Consumer Financial Protection Bureau, 89 percent of all repayments in 2020-2021 were made through the debit card. About FedFinancial Federal Credit Union FedFinancial FCU has been serving Federal Employees and their family members for more than 75 years, with the aim to provide valuable, convenient, and innovative financial services.

FedFinancial seeks to offer excellent value to its members by offering the personalised service of a small financial institution with the digital offerings associated with a much larger organization. About equipifi  equipifi is a fintech SaaS powering banks and credit unions with Buy Now, Pay Later solutions that align with their customers' financial goals. The equipifi platform seeks to seamlessly integrate with financial institutions to help them deepen customer engagement, grow market share, increase revenue, and provide a single place to view, accept, and manage BNPL plans on their existing banking app.

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