Velera, a Tampa, Fla.-based payments CUSO, has expanded its Buy Now, Pay Later (BNPL) capabilities, enabling credit unions to offer installment options through two integrated solutions: Debit Flex Payments for debit purchases and Apple Pay's Pay with Installments for credit transactions.
Consumer use of BNPL is expected to reach $3.7 trillion globally by 2030, according to Velera, and credit unions are seeing growing demand for short-term installment options. Velera's 2025 Eye on Payments study found that 38% of credit union members would likely use BNPL if their financial institution offered it.
Velera said the expansion is intended to help credit unions meet growing demand for installment payment options.
"BNPL has become an increasingly important part of how consumers manage everyday spending," Cody Banks, SVP, product experience and enablement for Velera, said. "By offering customizable, real-time installment options within digital banking and card experiences, credit unions can meet member expectations for convenience and choice while deepening engagement and staying competitive."
Velera said its Debit Flex Payments solution, powered by equipifi, enables credit unions to offer BNPL options to debit cardholders by generating real-time installment offers based on customizable eligibility criteria. Members can accept and manage installment plans through their credit union's digital banking app, with funds deposited in as little as 30 seconds.
Velera also said credit unions will be able to offer Apple Pay's Pay with Installments feature beginning in the second half of 2026. The option allows members to split eligible credit card purchases into short-term installment payments when using Apple Pay at checkout online, in apps or in stores. Apple Pay is available in 89 markets and works with more than 11,000 banks and network partners.
Velera said the two offerings expand its BNPL capabilities, giving credit unions additional ways to offer installment payment options to members.
Velera serves more than 4,000 financial institutions across North America.
Joyce Moed can be reached at joyce.moed@arc-network.com.
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