Former Congressman Patrick McHenry Joins equipifi as a Senior Advisor

Patrick McHenry

Buy Now, Pay Later (BNPL) fintech equipifi announced today that former Congressman and U.S. House Financial Services Committee Chair Patrick McHenry has joined as a Senior Advisor. 

As a Senior Advisor for equipifi, McHenry provides the team with strategic policy and regulatory guidance as the fintech prepares to scale bank-provided BNPL programs to all U.S. consumers. In his twenty plus years in the U.S. Congress, McHenry has introduced multiple bipartisan measures to expand consumer access to credit, and is a champion of an innovation-focused regulatory environment.

“Consumers depend on affordable and efficient access to credit to realize their vision of the American dream. Fortunately, financial institutions are investing in the responsible innovations required to provide it,” McHenry writes. “As a policymaker, I promoted measures that brought clarity for bank-fintech partnerships enabling them to produce solutions that improved the lives of the American people. I look forward to continuing this work with equipifi, and to helping policymakers understand the importance innovation plays in adapting to the evolving needs of consumers.”

BNPL is projected to grow at a compound annual growth rate of 24.3 percent from 2023 to 2030. As consumer demand for financial flexibility continues to grow, banks and credit unions have increasingly invested in BNPL as a part of their banking experience. equipifi, founded in 2021 to help financial institutions quickly launch their own white label BNPL program, experienced a 3,300 percent year-over-year increase in active users on its platform in 2024. Now partnered with over sixty financial institutions in twenty-eight states, equipifi is anticipating another year of unprecedented growth for bank BNPL. 

“For years, consumers have been asking their trusted financial institutions for flexible financing within their home banking, and now banks and credit unions are providing it through BNPL,” said Bryce Deeney, CEO and co-founder of equipifi. “More consumers are choosing to utilize BNPL services from their banks every day, and we’re honored to have the guidance of former Congressman McHenry as we prepare to make this solution available at scale.”

In addition to equipifi, McHenry also serves as a senior advisor for the payments company Stripe and for venture capital firm Andreessen Horowitz (a16z). 

In addition to McHenry, equipifi’s advisory board includes Paul Watkins, the former head of the Office of Innovation at the Consumer Financial Protection Bureau (CFPB), and Fred Rubin, the former National Bank Examiner at the Office of the Comptroller of the Currency (OCC).

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