OSWEGO — Oswego County Federal Credit Union (FCU) announced it has added “Buy Now, Pay Later” (BNPL) to its suite of online-banking products. Oswego County FCU says it has partnered with Scottsdale, Arizona–based equipifi, a BNPL platform tailored for debit-card issuers, to “enhance its offerings,” per a March 28 announcement. Oswego County FCU is a […]
OSWEGO — Oswego County Federal Credit Union (FCU) announced it has added “Buy Now, Pay Later” (BNPL) to its suite of online-banking products.
Oswego County FCU says it has partnered with Scottsdale, Arizona–based equipifi, a BNPL platform tailored for debit-card issuers, to “enhance its offerings,” per a March 28 announcement.
Oswego County FCU is a member-owned, nonprofit that serves more than 13,000 members in Oswego County.
Through Oswego County FCU’s BNPL product, members will receive personalized offers tailored to their financial well-being on eligible debit-card transactions.
Credit-union members will be able to view and accept these offers “within seconds,” Oswego County FCU says. Eligible purchases qualify for the BNPL program. Eligible purchases are defined as debit-card transactions of at least $100 made within the last 60 days, excluding cash or cash-equivalent transactions (such as ATM withdrawals, money orders, or cash advances), the credit union noted.
“BNPL is a payment preference that our members not only increasingly use but also expect as part of their financial experience,” Bill Carhart, CEO of Oswego County Federal Credit Union, said in the announcement. “equipifi’s BNPL platform allows us to embed this intuitive solution within our existing banking experience to meet our members where they are.”
To utilize the BNPL product, members can make purchases with their debit card and check “Buy Now, Pay Later” in their online banking to view available BNPL offers on eligible purchases, Oswego County FCU said. They can then decide which purchases to split over time, select the appropriate payment-installment plan, and receive their purchase amount deposited back into their account within 24 hours.
“BNPL is a payment method that grew from next-gen engagement and is now seeing adoption across all demographics,” Bryce Deeney, CEO and co-founder of equipifi, noted in the Oswego County FCU announcement. “Consumers prefer receiving it from their trusted financial institution, and Oswego County FCU is rolling out BNPL as a long-term commitment to their members and their evolving payment preferences.”
