Fiserv and Affirm Join Forces to Bring Flexible Payments to Debit

Core Insights - Fiserv has announced an exclusive collaboration with Affirm to integrate pay-over-time capabilities into debit card programs for financial institutions, allowing them to meet consumer demand for flexible payment options without developing new lending products [1][2] Group 1: Collaboration Details - The partnership builds on a previous integration in 2022, enhancing Fiserv's commitment to innovative debit solutions for financial institutions [2] - The collaboration aims to provide community and regional banks and credit unions with a scalable way to offer payment flexibility through existing debit products, enhancing customer relationships and engagement [2] Group 2: Benefits of the Integration - The integration will manage all technical aspects, allowing banks and credit unions to offer Affirm's flexible payment options seamlessly without operational lift [5] - Debit cardholders will have the option to split eligible purchases into fixed payments with a clear repayment schedule and no hidden fees, directly from their bank's mobile app [5] - Consumers will have access to Affirm's network of nearly 420,000 merchants, enabling them to apply for flexible payment options and expand their purchasing power [5]