Gather Federal Credit Union, a financial institution with over $881 million in assets and serving over 39,000 members in Hawai’i, announced that it has added Buy Now, Pay Later (BNPL) to its suite of online banking products. Named GatherFLEX, this is the first BNPL product offered by a credit union in the state of Hawaiʻi and will help strengthen the financial wellness of its communities by giving them greater flexibility in paying for purchases and managing their budget.
Gather FCU has selected equipifi, a leading BNPL platform designed for financial institutions, to power GatherFLEX. Now, whenever Gather FCU members make eligible purchases on their existing credit union debit card, they will be able to split the payments for these transactions over time. Members will also be able to get extra funds in their checking accounts with GatherFLEX’s pre-purchase feature. Through Equipifi, GatherFLEX offers are personalized to each member’s financial context and goals, meeting them where they are with timely access to extra funds when they need it. Members view and accept their BNPL offers in their digital banking experience and receive the funds in moments.
“GatherFLEX gives our members greater control and flexibility over their money,” said Justin Ganaden, Executive Vice President of Gather Federal Credit Union. “By partnering with equipifi, we’re able to deliver a convenient and seamless solution to our digital banking experience, empowering our members to manage their finances on their own terms.”
“BNPL is a must-have tool for consumers to stretch their budget and to achieve their long-term financial goals. For years, they have been asking for it from their trusted financial institutions,” said Bryce Deeney, CEO and co-founder of equipifi. “Credit unions have been quick to respond with the solution their members need. By launching BNPL, Gather Federal Credit Union is committing to a better banking experience for their entire membership.”
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