Customise Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorised as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyse the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customised advertisements based on the pages you visited previously and to analyse the effectiveness of the ad campaigns.

No cookies to display.

Search
Close this search box.

IHMVCU Launches In‑House BNPL for Member Flexibility

stock image

Members can now split purchases over time using their IHMVCU debit card and checking account

IH Mississippi Valley Credit Union (IHMVCU), headquartered in Moline, IL, and serving more than 143,000 members with over $2.1 billion in assets, has introduced a Buy Now, Pay Later (BNPL) option to its digital banking lineup. This new feature enhances IHMVCU’s commitment to financial flexibility by providing members with even more convenient and accessible tools within their digital banking experience.

Financial Technology Insights: Spinwheel Raises $30 Million Series A to Transform Credit Ecosystem

To power its BNPL solution, IHMVCU has partnered with equipifi, a leading platform built specifically for financial institutions. Through this integration, members can easily view and accept personalized, pre-qualified BNPL offers directly within their digital banking experience, with funds deposited into their checking account within minutes. The program is designed to support members throughout their entire shopping journey – offering a pre-purchase option for accessing additional funds in advance, as well as a post-purchase feature that transforms eligible debit card transactions into manageable installment payments.

“IHMVCU is dedicated to providing our members with convenient financial solutions tailored to their unique paths toward financial success,” said Brian Laufenberg, President and CEO of IHMVCU. “By launching an in-house BNPL with equipifi, we’re empowering our members with flexible, secure, and convenient options, giving them greater confidence and peace of mind as they manage their everyday finances.”

Financial Technology Insights: Wealthy Investors Seek Crypto Advice but Doubt Advisors

“BNPL is a powerful tool when provided by credit unions because it creates financial flexibility and opportunities for their entire membership in a way that is safe and tailored for individual members,” said Bryce Deeney, co-founder and CEO of equipifi. “By launching the solution in their digital banking experience, credit unions like IHMVCU are positioning themselves to better serve their members, from everyday budgeting decisions to unexpected expenses.”

Financial Technology Insights: Bitrue Launches BTR Perpetual Futures, Expands Token Utility

More than sixty credit unions have introduced their own Buy Now, Pay Later (BNPL) offerings to members. According to equipifi data, over 81% of users continue to utilize BNPL into their second year, with overall usage rising by 38%. In the U.S., BNPL adoption is expected to grow at a compound annual rate of 25.5% between 2022 and 2026.

To share your insights with the FinTech Newsroom, please write to us at sudipto@intentamplify.com

Source: prnewswire

Share With
Contact Us
StatCounter - Free Web Tracker and Counter