New in-house installment payment option offers affordable, flexible, and tech-forward financial solutions to meet evolving member needs
AUSTIN, Texas /Massachusetts Newswire – National News/ — Velocity Credit Union (Velocity) has announced the launch of a new Buy Now, Pay Later (BNPL) program designed to give members greater financial flexibility and control over their everyday spending. A financial institution with over $1 billion in assets and serving over 80,000 members, Velocity is introducing this program to further its commitment to offering comprehensive financial services to its members for every stage of their life.
Velocity’s BNPL program allows members to split eligible debit card purchases into predictable installment payments through its mobile and online banking platforms. Members may also choose to receive funds in their checking account prior to making a purchase, offering added flexibility when managing planned or unexpected expenses.
“Velocity Credit Union continues to put our members first with financial solutions that grow with them,” said Debbie Mitchell, President & CEO at Velocity Credit Union. “Our new Buy Now, Pay Later program adds another layer of flexibility and control, giving members a responsible, digital-first way to plan purchases, handle the unexpected, and stay financially confident while still receiving the personal support they expect from Velocity.”
The program is powered by equipifi, the leading BNPL platform built for financial institutions. Unlike many third-party BNPL providers, Velocity’s BNPL solution is fully integrated within its digital banking environment. Members can view and accept personalized offers securely and efficiently, without leaving the credit union’s trusted platform.
“BNPL is reshaping banking relationships and is a necessary feature for financial institutions to align with the evolving needs of consumers,” said Bryce Deeney, Co-Founder and CEO of equipifi. “Velocity Credit Union is setting a strong example of how credit unions can meet members’ needs with empathy by offering relevant, smart payment tools designed to improve their financial wellbeing.”
By keeping the solution in-house, Velocity ensures that members can access a safer BNPL product with terms reflective of their financial context and longstanding relationship with the credit union. This approach also enables the credit union to reinvest value generated by the program into enhanced member services, competitive rates, and greater impact in the communities it serves.
For more information, visit https://www.velocitycu.com/.
About Velocity Credit Union
Velocity Credit Union has served Central Texans for over 75 years with a mission to provide exceptional financial products, personal service, and support for the communities it serves. Membership is open to those who live or work in the five-county Austin area. Velocity Credit Union is federally insured by the National Credit Union Administration. Equal Housing Lender.
About equipifi
equipifi is the leading Buy Now, Pay Later (BNPL) platform built for financial institutions in the United States. Its white-label solution integrates with core banking and digital platforms, aligning BNPL offerings with consumers’ financial goals and banking preferences. equipifi enables institutions to boost engagement, grow market share, and deliver transparent, manageable installment options directly through their own apps. Learn more at https://www.equipifi.com/.
Learn More: https://www.velocitycu.com/
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NEWS SOURCE: Velocity Credit Union. Story was sourced from a press release issued by Send2Press® and used with permission. View the original story at: https://www.send2press.com/wire/velocity-credit-union-introduces-buy-now-pay-later-to-give-members-greater-financial-flexibility/
