equipifi Announces Integration with Q2's Digital Banking Platform to Offer Buy Now, Pay Later Services for Financial Institutions

Rhea-AI Summary

equipifi, a fintech firm, announced its integration with Q2's Digital Banking Platform through the Q2 Partner Accelerator Program on Nov. 1, 2022. This partnership enables banks and credit unions to offer a white label Buy Now, Pay Later (BNPL) solution to their customers, enhancing customer engagement and meeting the rising demand for flexible payment options. Notably, 60% of US consumers have utilized BNPL services, indicating a growing market. The integration aims to align financial institutions' offerings with consumer preferences, particularly among BNPL users.

Positive

• Integration with Q2's Digital Banking Platform enhances customer service options for financial institutions.
• Addresses growing consumer demand for BNPL solutions, as 60% of US consumers have used it.
• Allows financial institutions to deepen customer engagement and increase revenue.

Negative

• None.

SCOTTSDALE, Ariz., Nov. 1, 2022 /PRNewswire/ -- equipifi, a fintech company providing banks and credit unions with a white label Buy Now, Pay Later (BNPL) solution, announced its integration with Q2's Digital Banking Platform, via the Q2 Partner Accelerator Program. Q2 Holdings, Inc. (NYSE: QTWO) is a leading provider of digital transformation solutions for banking and lending. Through this integration, equipifi will offer BNPL services within Q2's Digital Banking Platform. 60 percent of US consumers have used BNPL at least once and over 70 percent of BNPL users would prefer a solution from their trusted financial institution.

Through this integration, equipifi will offer BNPL services within Q2's Digital Banking Platform.

The Q2 Partner Accelerator is a program through the Q2 Innovation Studio that allows in-demand financial services companies who are leveraging the Q2 SDK to pre-integrate their technology to the Q2 Digital Banking Platform. This enables financial institutions to work with these partners, purchase their solutions and rapidly deploy their standardized integrations to their customers.

equipifi's white label BNPL solution integrates with banks and credit unions to curate offers that consumers can view, accept, and manage through their existing banking apps. By offering BNPL, financial institutions enable their debit cardholders to pay for purchases in a way that aligns with their financial goals.

"We are pleased to see equipifi join the Partner Accelerator Program," said Johnny Ola, Managing Director, Q2 Innovation Studio. "Our financial institution customers now have the option to offer equipifi's Buy Now, Pay Later services to their account holders."

"Consumers have become accustomed to flexible purchasing options through third-party vendors that are currently offering BNPL solutions, and they have the same expectations of their financial institutions when establishing their preferred payment methods," said Bryce Deeney, co-founder and CEO of equipifi. "Through equipifi's integration with Q2's Digital Banking Platform, Q2 customers will have the ability to offer more convenient payment methods for their customer's buying journey."

To learn more about the Q2 Innovation Studio's Partner Accelerator Program, please click here.

About equipifi

equipifi is a fintech SaaS powering banks and credit unions with Buy Now, Pay Later (BNPL) solutions that align with their customers' financial goals. The equipifi platform seamlessly integrates with financial institutions to help them deepen customer engagement, grow market share, increase revenue, and provide a single place to view, accept, and manage BNPL plans on their existing banking app. For more information, please visit www.equipifi.com.

About Q2 Holdings, Inc.

Q2 is a financial experience company dedicated to providing digital banking and lending solutions to banks, credit unions, alternative finance, and fintech companies in the U.S. and internationally. With comprehensive end-to-end solution sets, Q2 enables its partners to provide cohesive, secure, data-driven experiences to every account holder – from consumer to small business and corporate. Headquartered in Austin, Texas, Q2 has offices throughout the world and is publicly traded on the NYSE under the stock symbol QTWO. To learn more, please visit Q2.com.

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SOURCE equipifi

FAQ

What is the significance of equipifi's integration with Q2's Digital Banking Platform?

The integration allows banks and credit unions to offer Buy Now, Pay Later services, meeting customer demand for flexible payment options.

When did equipifi announce its partnership with Q2?

The announcement was made on November 1, 2022.

What percentage of US consumers use Buy Now, Pay Later services?

Approximately 60% of US consumers have used Buy Now, Pay Later services.

How does the Q2 Partner Accelerator Program benefit financial institutions?

It enables financial institutions to quickly integrate and deploy equipifi's BNPL solutions to their customers.

What are the expected outcomes for financial institutions using equipifi's BNPL solution?

Financial institutions can enhance customer engagement, grow market share, and increase revenue.