IS has entered a strategic partnership with Affirm, making the US payment network its integrated pay-over-time provider for debit issuers. Together, FIS and Affirm will deliver a new program that enables FIS banking clients to integrate Affirm’s solution into their existing debit program via their digital banking and mobile app platforms.
This program offers a substantial opportunity for financial institutions to provide a sought-after pay-over-time solution to millions of U.S. consumers who have a debit card.
“Customer conversion and retention have become major priorities for card-issuing banks in our increasingly digitised economy, where consumers have endless options,” said Jim Johnson, co-president of Banking Solutions, FIS. “Consumers today are looking for innovative and user-friendly experiences that give them flexibility and control over their money and optimise how their money is put to work. That is why so many of them choose to pay with Affirm. This new program will deliver Affirm’s leading-edge technology, flexible and transparent payment options, and extensive merchant network to our banking clients, enabling them to continue meeting these needs and offer more competitive, differentiated services through their banking channels.”