Fiserv has partnered with Affirm to offer flexible BNPL payments to debit cardholders, bringing over-time payment capabilities to debit card programmes.
The alliance supports Fiserv bank and credit union clients in the US to meet the consumer demand for flexible payment options without the need to build new lending solutions from the ground up.
BNPL to debit products
Fiserv and Affirm started their partnership back in 2022 to integrate Affirm into Commerce Hub, allowing merchants to offer BNPL at checkout. Now, their continued collaboration reflects the companies’ commitment to offering new debit solutions that help FIs compete and meet ever-evolving customer needs.
Key advantages of the new solution include improved debit engagement, access to Affirm’s network, and more flexibility on payment choices. Fiserv and Affirm will manage all technical aspects, with Affirm’s platform supporting real-time underwriting, loan origination, and funding. Fiserv will integrate this technology into its digital operations so that its clients can natively offer the products.
By integrating BNPL into existing debit programmes, issuers can keep customer spend within their ecosystem. This means more engagement and transaction growth for users. Additionally, cardholders can utilise Affirm anywhere their debit cards are accepted and apply for flexible payment options to expand their purchasing power with no hidden fees. Affirm offers access to nearly 420,000 merchants, offering custom financing offers, including 0% APR, at popular brands and retailers.
Debit cardholders will have the option to split eligible purchases into fixed payments, with a clear repayment schedule, a defined end date, and no late or hidden fees, directly from their bank’s mobile app.
Fiserv believes that its extended alliance with Affirm offers its clients a scalable way to deliver BNPL solutions through their existing products, deepening customer loyalty and member relationships while driving engagement. Affirm aims to help institutions offer transparent pay-over-time options so that their customers get the control they need from banks and credit unions rather than looking elsewhere.
