Velera, a US-based payments credit union service organisation and financial technology solutions provider, has announced an expansion of its buy now, pay later (BNPL) capabilities for credit unions.
According to the official press release, the expansion introduces two integrated solutions, including Debit Flex Payments for debit card purchases, powered by equipifi, and Apple Pay's Pay with Installments for eligible credit transactions, planned for availability in the second half of 2026.
Debit Flex Payments enables credit unions to deliver personalised, real-time installment offers to debit cardholders using customisable eligibility criteria. Funds can be deposited in as little as 30 seconds without lengthy credit checks. Additionally, members can view, accept, and manage installment plans directly within their credit union's digital banking application. The product is designed to drive debit card engagement and provide credit unions with a competitive alternative to merchant-operated BNPL services.
Apple Pay integration and market context
Pay with Installments integrates BNPL directly into the Apple Pay payment flow, allowing members to split eligible credit purchases into short-term installments at checkout in-store, online, or in-app. Members authenticate using Face ID, Touch ID, or passcode, consistent with standard Apple Pay security requirements. The feature is accepted at millions of retailers globally.
Furthermore, the expansion reflects growing member demand for installment payment options delivered through trusted financial institutions. According to Velera's 2025 Eye on Payments study, 38% of credit union members would likely use BNPL programmes if offered by their own financial institution, with particularly strong interest among younger consumers. The global BNPL market is projected to reach USD 3.7 trillion by 2030.
Talking about the move, Cody Banks, SVP of Product Experience and Enablement at Velera, said credit unions can meet member expectations for convenience and choice by offering customisable, real-time installment options within digital banking and card experiences, while deepening engagement and staying competitive.
