EAST LANSING, Mich.– Michigan State University FCU has become the latest to introduce buy now, pay later (BNPL) financing, with a solution developed in-house and in partnership with equipifi.
The $8-billion MSUFCU said its offering allows members to split eligible debit card purchases into manageable installments directly within MSUFCU’s digital banking experience.
It said in a statement that by providing flexibility and transparency, members gain greater control over their budgets without compromising their financial security.
‘More Control’
“We invested in BNPL to give our members more control over their budget, with a payment method they prefer, delivered securely and seamlessly from their trusted credit union,” Chief Technology Officer Ben Maxim said in a statement. “Our partnership with equipifi reflects our commitment to innovation and to helping members pursue their goals with confidence.”
To power this service, MSUFCU said it partnered with equipifi to generate pre-qualified BNPL offers to members based on their unique financial profile. Using an application programming interface (API) to connect to equipifi’s platform, MSUFCU said it is able to help members access flexible payment options that fit both their budgets and lifestyles.
‘Necessary Budgeting Feature’
“BNPL is a necessary banking and budgeting feature for financial institutions to align with the evolving needs of consumers,” Bryce Deeney, CEO and co-founder of equipifi, said in a statement. “MSUFCU’s leadership in launching this program reflects their dedication to providing a banking experience that puts people first.”
