Velera Expands BNPL Capabilities for Credit Unions, Delivering Real-Time Installment Options across Credit and Debit

Cody Banks

​Velera, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, today announced an expansion of its Buy Now, Pay Later (BNPL) capabilities, enabling credit unions to offer flexible installment options through two integrated solutions: Debit Flex Payments for debit purchases and Apple Pay’s Pay with Installments for credit transactions.
 
As consumer adoption of BNPL continues to accelerate – projected to reach $3.7 trillion globally by 2030 – credit unions are seeing growing demand for short-term installment options that are secure, easy to use and embedded within trusted financial relationships. According to Velera’s 2025 Eye on Payments study, 38% of credit union members would likely use BNPL programs if offered by their financial institution, with younger consumers demonstrating especially strong interest.
 
“BNPL has become an increasingly important part of how consumers manage everyday spending,” said Cody Banks, SVP, Product Experience and Enablement, Velera. “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.”
 
Debit Flex Payments
Powered by equipifi and now available to Velera credit unions, Debit Flex Payments extends BNPL to debit cardholders by enabling credit unions to deliver personalized installment offers in real time. Using customizable eligibility criteria, the service generates offers instantly, allowing funds to be deposited in as little as 30 seconds without lengthy credit checks or approvals.
 
For credit unions, Debit Flex Payments drives higher debit engagement, strengthens member loyalty and provides a competitive alternative to merchant-based BNPL providers. Members can view, accept and manage flexible installment plans directly within their credit union’s digital banking app, creating a seamless experience for both pre- and post-purchase financing.
 
Apple Pay’s Latest Feature: Pay with Installments
Available to Velera credit unions in the second half of 2026, the enablement of Apple Pay’s feature, Pay with Installments, will allow members to use their credit union card to split eligible credit purchases into short-term installments at checkout, whether shopping online, in-app or in-store.
 
The experience is fully integrated into the Apple Pay payment flow, allowing members to select a payment plan that works best with their budget, right at checkout.1 When paying with Apple Pay on their iPhone or iPad, members can select their eligible card, tap Pay Later and choose a payment plan. In-store, on their iPhone, they select their eligible card, tap Pay Later, then select if they want to choose a plan now or set one up later.
 
With this feature, participating credit unions can deliver real-time installment options right at checkout – all with the security and convenience of Apple Pay. Accepted at millions of retailers all over the world, Apple Pay is built with security and privacy at its core. Transactions require cardholder authentication with Face ID, Touch ID or passcode. This is designed so only cardholders can authorize the usage of installment plans with their cards.
 
Together, Debit Flex Payments and Apple Pay’s Pay with Installments expand Velera’s growing suite of BNPL solutions, giving members more choice, flexibility and control over how they manage purchases. To learn more, visit velera.com/buy-now-pay-later.

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