Velera, a US-based payments credit union service organization and financial technology solutions provider, has announced an expansion of its buy now, pay later (BNPL) capabilities for credit unions.

The expanded offerings include two integrated solutions: Debit Flex Payments for debit card purchases, which is powered by equipifi, and Apple Pay’s Pay with Installments for eligible credit transactions. The latter is set to be available in the second half of 2026.

Debit Flex Payments allows credit unions to provide personalized, real-time installment offers to debit cardholders based on custom eligibility criteria. Funds can be deposited swiftly, typically within 30 seconds, without lengthy credit checks. Members can view and manage their installment plans directly through the credit union’s digital banking application.

Apple Pay Integration and Market Context

Pay with Installments integrates BNPL functionality into Apple Pay, enabling members to split eligible credit purchases into short-term installments at checkout, both in-store, online, or within apps. Members can authenticate their payments using Face ID, Touch ID, or a passcode, adhering to standard Apple Pay security protocols. The feature is accepted by millions of retailers globally.

The expansion aligns with growing member demand for installment payment options through trusted financial institutions. According to Velera’s 2025 Eye on Payments study, 38% of credit union members would likely utilize BNPL programs if offered by their own financial institution, with particularly strong interest among younger consumers.

The global BNPL market is anticipated to reach USD 3.7 trillion by 2030.

In discussing this move, Cody Banks, SVP of Product Experience and Enablement at Velera, emphasized that credit unions can fulfill member expectations for convenience and choice by offering customizable, real-time installment options within digital banking and card experiences, thereby enhancing engagement and maintaining competitiveness.