Affirm signs partnership to integrate its BNPL solution with bank debit cards

The giant of the US BNPL Affirm A new weight partner will now be able to ensure the deployment of its phased payment offers. He has just moved closer to FIS (Fidelity National Information Services, a leading financial services technology company), offering the opportunity to integrate these phased payment solutions directly into the bank debit card program.

FACTS

• FIS and Affirm have therefore established a new partnership to integrate Affirm's split payment features into traditional bank debit cards. Their joint work results in the possibility for FIS bank customers to integrate Affirm's phased payment solutions directly into their existing debit card programs.

• This collaboration allows FIS client banks to offer their debit card holders payment options over multiple maturities, including bimonthly and monthly plans.

• Banks integrating the programme will also be able to offer financing offers presented as attractive to their end customers, with annual interest rates of 0%, extended repayment periods or higher credit limits. Always thanks to Affirm.

• Furthermore, Affirm is responsible for the assessment of credit risk, subscription and management of services, thus ensuring a smooth experience for FIS partners and their customers.

ISSUES

• Capitalizing on increased demand : This initiative aims to meet the growing demand of consumers for flexible and transparent payment options, while allowing financial institutions to retain their customers by offering them competitive and differentiated services.

• Outsourcing a service For FIS client banks, this new partnership represents an opportunity to offer a new full service to their end customers while outsourcing its management and reducing risks.

• Fight against competition : The deployment of such a program in traditional banking services is a means for historical banks to combat competition from independent BNPL service providers. With Affirm, they become able to offer a service with real added value facilitating payments to 335,000 trading partners, now integrated into the Affirm network.

PERSPECTIVE

• The announcement of this new partnership allowed Affirm to see its action increase slightly. This rapprochement with FIS allows it to ensure a much wider democratisation of its service within the traditional banking institutions. And this new stage opens the door to a new base of major customers, further pushing the boundaries of competition.

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