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  • Writer's pictureKelsie Papenhausen

PSCU/Co-op Solutions Launches New Buy Now, Pay Later Solution Across Legacy Co-op Payments Ecosystem

Solution provides payments option for member cardholders to pay on their own terms


St. Petersburg, Fla. — (Feb. 6, 2024) – Credit card issuers that process with legacy Co-op Solutions now can offer their cardholders a new buy now, pay later (BNPL) option from PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider.


PSCU/Co-op Solutions combined into a single enterprise on Jan. 1 and is in a multiyear process of integrating operations. The new BNPL solution supports clients of the legacy Co-op ecosystem, while the combined company also offers a BNPL solution for clients of the legacy PSCU organization.


Cardholders whose credit unions sign up for the new solution may choose qualifying transactions to pay back, like a term loan. With the BNPL solution, offers are presented to cardholders through their credit union’s mobile app or online banking, and participation is simple. Cardholders do not need to complete a loan application to take advantage of BNPL.


The solution launches at a time when more than 360 million consumers have used BNPL. The popular payment method appeals to financial institutions as much as consumers, given its potential to serve as an important revenue stream and to attract younger customers. The total value of BNPL loans grew by more than 1,000% from 2019 to 2021, and 80% of BNPL users are between ages 25 and 34.


“Our buy now, pay later solution offers a payment experience that enables members to exercise spending power on their terms and within the context of their lifestyles,” said PSCU/Co-op Solutions Product Development Director Nelson Fisher. “Cardholders tend to pay off term loans at faster rates than credit card balances. For credit unions, that behavior equates to lower charge-off rates, reduced delinquency and fewer balance transfers.”


The new BNPL solution has many customizable components based on the credit union’s needs. Issuers can choose components from fees and APRs to transaction limits and duration of repayment windows.


According to Fisher, the solution enables front- and back-end touchpoints that enhance its performance and the member experience. Legacy Co-op’s offer management service does the heavy lifting of determining transaction and member eligibility, and the Co-op Developer Portal makes it simple for credit unions to integrate BNPL with their digital banking experiences. All reporting and analytics for BNPL flows through the legacy Co-op Insights Center, and member support is enabled through Co-op Springboard and available through Co-op Contact Center.


BNPL began in the fintech startup space with new entrants like Klarna and Affirm offerings. However, it has quickly achieved mainstream status with mega banks offering it to enormous customer bases.


“New and tenured competitors alike are standing up innovative business models to meet consumer demands for hyper-personalized financial experiences,” said Fisher. “This is creating a fiercely competitive consumer lending environment for credit unions and PSCU/Co-op is here to help support short- and long-term strategies to meet these challenging times.”


To learn more about BNPL in the credit union space and the new solution from PSCU/Co-op Solutions, view the informational webinar from legacy Co-op’s Latest Insights page here.


About PSCU/Co-op Solutions

PSCU/Co-op Solutions is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America. PSCU/Co-op Solutions leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit and



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