BluPeak Credit Union Launches Innovative BNPL Solution, First in San Diego

Partnering with leading BNPL platform equipifi, BluPeak introduces FlexPay in time for holiday shopping to help members stretch their budget

SAN DIEGO, Nov. 18, 2024 /PRNewswire/ -- BluPeak Credit Union (BluPeak) is proud to announce an innovative Buy Now, Pay Later (BNPL) solution to its digital banking suite. This strategic move, the first credit union BNPL product for communities in San Diego, is made possible through a partnership with equipifi, a leading BNPL platform designed for financial institutions. With a launch in time for the holidays, BluPeak is anticipating its members' needs with an intuitive financing product to help manage higher expenses during the shopping season.

FlexPay, as the solution has been named, allows BluPeak members to make eligible purchases now on their debit cards, and make convenient and flexible payments over time. With a seamless integration with BluPeak's core banking system, members can view and accept their pre-qualified offers in their digital banking experience in seconds and receive funds back into their checking accounts in moments.

Vito Zerilli, Chief Experience Officer of BluPeak, emphasized the importance of innovation and strategic partnerships in providing value to members: "Consumer behavior is changing, and today they prefer to use BNPL when making purchases to stretch their budget and better manage their finances. Our mission is to be at the forefront of financial innovation, listening to member needs, and constantly adapting to ensure we deliver on our commitment to provide exceptional world class products and services. Our collaboration with equipifi is a testament to this commitment."

FlexPay is part of BluPeak's ongoing effort to enhance its digital banking offerings, providing members with more flexibility and control over their financial transactions. With 67 percent of parents anticipating using BNPL this holiday and 82 percent of Gen Z willing to switch financial institutions for better digital experiences BluPeak is positioning itself as a primary financial partner for its members, ready to support them through every significant financial decision.

"Consumers are adopting BNPL because they want products that are convenient and relevant to their everyday needs, and more than 70 percent of BNPL users would prefer these products from their trusted financial institutions," said Bryce Deeney, CEO and co-founder of equipifi. "By launching BNPL, BluPeak Credit Union is positioning themselves to meet their members where they are and become the go-to financial institution for every important moment."

About BluPeak Credit Union: Founded as a credit union in 1936, BluPeak is a purpose driven financial institution empowering its members to achieve financial wellness through a full range of financial products and services. With over $1.3 billion in assets, BluPeak serves its 53,000+ members through five California branches, 30,000 surcharge-free ATMs nationwide, and 24/7 online and mobile banking. Membership is open to all Californians within BluPeak's designated counties, as well as state of California employees, and California university employees and students, in addition to eligibility to join through our partnership with KPBS.

As a community leader, BluPeak partners with local causes, events and organizations sharing our commitment to health, wellness and inclusiveness. Learn more at BluPeak.com.

About equipifi: equipifi is the leading Buy Now, Pay Later (BNPL) platform for financial institutions in the United States. This is a white label solution designed to align with consumer purchase habits, payment preferences, and financial goals. The equipifi platform seamlessly integrates with leading banking cores and digital banking platforms to deepen cardholder engagement, grow market share, increase revenue, and provide a single place to view, accept, and manage BNPL plans on their existing banking app. For more information, please visit http://www.equipifi.com/.

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SOURCE equipifi