Page 23 - GS220801

CompanyProfile

Empower partners with

flexible, brandable

BNPL solutions

ryce Deeney was a payments executive work-
ing at a credit union when he saw first-hand ISO/MLS contact:
the impact of buy now, pay later (BNPL) activ-
B ity on the debit portfolio. Cardholders, who Pat Scherz, Chief Experience Officer
were unable to find the services they wanted in the credit pat.scherz@equipifi.com
union's banking solution suite, were opting to work with
third-party fintechs that provided the payment options 602-292-1229
they wanted, such as BNPL. Deeney, along with global
security architect Arthur Miller and program expert www.equipifi.com
Bill Simmons, founded equipifi in September 2021 to
improve BNPL service offerings. The company, based in
Scottsdale, Ariz., helps banks and credit unions not only chief program officer, for the company's exponential
address existing gaps, but also redefine BNPL as a flexi- growth and highly energized team of 22 employees. The
ble financing solution, stated Pat Scherz, chief experience company closed a $3 million seed round in September
officer at equipifi. Scherz pointed out that his company 2021 and $12 million Series A in May 2022. In addition,
helps financial institutions democratize access to flexible Scherz noted, equipifi joined the Symitar vendor integra-
financing while keeping their customers' overall finan- tion program in November 2021 and has more partner-
cial health and goals top of mind. He also said, "equipifi ships and integrations ahead on its near-term product
powers BNPL solutions offered by financial institutions, roadmap. "Look out for us in the news in the coming
making its BNPL experience more streamlined, lower months," Scherz said. "We'll be announcing several mo-
risk, and aligned with cardholders' financial goals." bile banking partnerships and integrations, as well as
some strategic partnerships in the card processing and
Driving customer longevity card brand networks." Scherz went on to say that equipifi
supports the entire commerce value chain, providing so-
Scherz additionally noted that equipifi, unlike numer- lutions for payments industry partners, financial institu-
ous other BNPL service providers, is holistically focused tions and cardholders.
on clients' customers, which helps financial institutions
drive revenue growth and extend customer lifecycles. Empowering commerce
And he cited the following examples: Tony Dubey, cloud solutions architect at equipifi, stated
• Enhanced decisioning: The company's proprietary there is nothing more rewarding than building software
decision engine leverages key data points inside of a and cloud infrastructure from the ground up. He also
financial institution's banking core to generate abun- noted that equipifi solutions empower commerce in the
dant high-quality BNPL offers. following ways:
• Extended debit card rails: The company's ability to • Payment processors: equipifi provides merchant
extend existing debit card rails exceeds the capabili- acquirers, ISOs and payment processors with an
ties of traditional credit lines. open ecosystem designed to supercharge advanced,
• Improved customer experience: The company's branded, customizable and competitively priced
mobile banking integration improves the customer BNPL solutions.
experience allowing consumers to view, accept and • Financial institutions: equipifi enables financial
manage BNPL plans without leaving their existing institutions and credit unions to provide their card-
mobile banking app. holders with one place to access flexible financing
for everyday purchases.
The company's white-label BNPL solution "integrates
with banks and credit unions to curate offers that con- • Cardholders: equipifi enables cardholders to spread
sumers can view, accept, and manage within their exist- debit card purchases out over time through flexible
ing banking apps," Scherz said. "By offering BNPL, finan- payment methods provided by their own trusted
cial institutions enable their debit cardholders to pay for banks and credit unions.
purchases in a way that aligns with their financial goals."
"In my 25 years of building software, equipifi is the
Fostering innovation most exciting thus far," Dubey said. "As a team, we have
achieved so many great things in such a short period of
Scherz credited equipifi co-founders Bryce Deeney, CEO; time. We can't wait for everyone to see and use our prod-
Arthur Miller, chief technology officer; and Bill Simmons, uct."

23