Fiserv integrates Affirm into Carat merchant platform, plans more integrations

Fiserv is integrating buy now, pay later (BNPL) company Affirm into its Carat merchant platform as part of the core provider’s latest business banking push. Affirm is set to be the first BNPL to fully integrate into Fiserv’s Carat merchant platform, allowing Fiserv merchant clients to add Affirm payment options into their digital checkout. Fiserv sees the solution, which is slated for release later this year, as a roadmap for future moves with “proven” BNPL providers, Mark Hennin, Fiserv senior vice president and head of lending, told Bank Automation News . Fiserv has roots in the BNPL space, maintaining partnerships with providers such as Zip and Bread Financial . [caption id="attachment_222145" align="alignright" width="300"] Photo by CanStock[/caption] “Later this year, our large enterprise clients will have access to Affirm directly through their existing relationship with Carat,” Hennin said. “Should these clients want to enable Affirm, they will have a simple means of doing so via our technology. We expect this will be a model for other integrations with proven BNPL providers.” While stocks and valuations have been shaky in recent months, BNPL continues to be a major force in digital financial services, with BNPL expected to account for a quarter of all global ecommerce payments by 2026, according to Juniper Research. Banks have gotten in on the action as well, with the $587 billion U.S. Bank expanding eligibility for its ExtendPay BNPL solution to business customers in April. Hennin told BAN that Fiserv’s BNPL rollouts will help businesses take advantage of an increasingly crowded and complicated BNPL situation. “While the availability of more BNPL options adds convenience for customers, it is also creating complexity for businesses,” Hennin said. “By enabling direct integrations of BNPL providers to Fiserv commerce systems like Clover and Carat, we can simplify how businesses enable BNPL.” [stock_market_widget type="inline" template="generic" assets="FISV" markup="Shares of {name} ({symbol}) were trading at {price} ({change_pct}) as of {last_update}." api="yf"] Help shape our agenda for the Bank Automation Summit by applying to join the speaker roster here . Potential speakers will be contacted and confirmed directly by the editorial team, and only qualified submissions will receive a response. Learn more about Bank Automation Summit Fall 2022 .

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Fiserv integrates Affirm into Carat merchant platform, plans more integrations

Affirm to be offered as payment option for business clients

Upstart to expand automated lending to business banking

Cryptocurrencies being used by fraudsters, Starling boss says

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