Fiserv partners with Affirm to add pay-over-time to debit cards

Fiserv Inc. (NASDAQ: FISV) announced a collaboration with Affirm (NASDAQ: AFRM) to integrate buy now, pay later capabilities into debit card programs for financial institutions. The partnership allows Fiserv's bank and credit union clients to offer pay-over-time options through existing debit products.

The companies previously partnered in 2022 to integrate Affirm into Commerce Hub for merchant checkout services. This expansion enables financial institutions to offer flexible payment options without developing new lending products internally.

Under the collaboration, Fiserv will integrate Affirm's technology into its digital solutions, handling technical implementation for client institutions. Affirm will manage real-time underwriting, loan origination, and funding processes. The service allows debit cardholders to split eligible purchases into fixed payments through their bank's mobile app.

Consumers can access the service anywhere their debit cards are accepted and apply for financing options at nearly 420,000 merchants in Affirm's network. The payment plans include clear repayment schedules with defined end dates and no late or hidden fees.

"Community and regional banks and credit unions want to meet evolving consumer expectations around greater flexibility in how they pay for purchases," said Erik Wichita, Head of Card Services at Fiserv. The partnership provides clients with a way to offer payment flexibility through existing debit products.

Wayne Pommen, Chief Revenue Officer at Affirm, stated the collaboration helps financial institutions offer transparent pay-over-time options so customers can access flexibility from their primary banking relationships rather than seeking alternatives elsewhere.

The integration aims to increase debit card engagement by keeping customer spending within issuing institutions' ecosystems. Financial institutions can offer the service without operational requirements, as Fiserv and Affirm handle technical management.

You May Also Be Interested In

• Stifel Starts Arrowhead Pharma (ARWR) at Buy
• Brown-Forman CEO Lawson Whiting to retire after nearly 30 years
• CEVA COO Michael Boukaya to resign effective August 2026