CU 2.0 Podcast Episode 418 Equipifi's Lo Smith on Why BNPL Just Keeps Growing

I will admit it, when I first heard about BNPL - buy now pay later - I snorted that layaway had died years ago.

I was wrong.

BNPL has become a huge marketplace.  Federal Reserve data pegs it at around $160 billion in consumer credit products. And the scary bit for credit unions is that fintechs own over 90% of that market and they aren’t sharing with FIs.

Enter Equipifi which has as its mission empowering credit unions and community banks to offer BNPL to their members and customers.

Equipifi founder Bryce Deeney was on the show five years ago and again three years ago to discuss the market.

That market keeps growing and more credit unions are recognizing that BNPL just may appeal to a cohort of their membership -- and it may also attract new members.

Flashforward and on the show now is Lo Smith, a past podcast guest when she worked at a different company. Now she is VP, Head of Revenue at Equipifi and she is here to update us on the state of BNPL today.

Listen up.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com
 
 

And like this podcast on whatever service you use to stream it. That matters.
 
 

Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto