Business
FIS Partners with Affirm to Bring Integrated Pay-Over-Time Capabilities Directly to Debit Issuing Banking Clients and Their Cardholders
Key Facts Upon launch of the program, FIS debit processing bank clients will be able to integrate Affirm’s pay-over-time solution directly into their
About this update from Affirm Holdings, Inc.
[{"type":"text","content":"\nKey Facts\n\n\n\nUpon launch of the program, FIS debit processing bank clients will be able to integrate Affirm’s pay-over-time solution directly into their existing debit card program via their digital banking and mobile app platforms.\n\n\n\nAffirm delivers real-time underwriting technology, a wide-range of flexible payment options – including ‘buy now, pay later’ (BNPL) and monthly payment plans – and no late or hidden fees. It also provides access to a network of over 335,000 merchants.\n\n\n\nFIS' clients can continue to meet the growing demand for payment flexibility, while increasing customer engagement and accelerating growth for their business, by incorporating Affirm's offering into their debit card products.\n\n\n\n JACKSONVILLE, Fla.--(BUSINESS WIRE)--\nFIS® (NYSE: FIS), a global leader in financial technology, today announced a new strategic partnership with Affirm, (NASDAQ: AFRM), the payment network that can empower consumers and help merchants drive growth, making Affirm its integrated pay-over-time provider for debit issuers. Together, FIS and Affirm will deliver a new program that enables FIS’ vast network of banking clients to integrate Affirm’s industry-leading solution into their existing debit program via their digital banking and mobile app platforms, allowing their customers to easily manage their finances in a single place.\n\n\nThis collaboration is well-timed, as banks are searching for new and innovative options to meet consumer needs and demands for flexible purchasing solutions. This program offers a substantial opportunity for financial institutions to provide a sought-after pay-over-time solution to the millions of U.S. consumers who have a debit card. By integrating Affirm’s offering into banking products, FIS continues to unlock growth opportunities for clients across the money lifecycle, help meet the demands of the growing market and strategically position financial institutions to capitalize on the offering’s potential by fostering customer loyalty and accelerating growth.\n\n\n“Customer conversion and retention have become major priorities for card-issuing banks in our increasingly digitized economy, where consumers have endless options,” said Jim Johnson, co-president, Banking Solutions, FIS. \"Consumers today are looking for innovative and user-friendly experiences that give them flexibi...