Visa and financial technology company, Pagaya, have partnered to enable Visa’s expansive network of merchant partners and issuing co-brand financial institutions to leverage Pagaya’s technology to expand customers’ access to financial products.
Pagaya is working to reshape the financial industry by using machine learning, big data analytics, and sophisticated AI-driven credit and analysis technology. Its proprietary artificial intelligence technology and infrastructure enable banks, originators, and merchants to offer robust access to financial products through a seamless and white-labeled customer experience.
This collaboration will seek to drive growth for Visa’s network of merchants and issuing financial institutions.
Speaking on the partnership, Leslie Gillin, Chief Growth Officer of Pagaya said, “This groundbreaking partnership with Visa will accelerate financial institutions’ ability to leverage our highly effective AI data-driven technology. Pagaya has demonstrated a history of delivering substantial growth for all our partners. We are committed to ensuring Visa, its merchant partners, and issuing financial institutions benefit from our ability to deliver at scale and look forward to the collaborative effort to integrate these partners in the coming months.”
The Visa network will have preferred access to Pagaya’s technology, which enables a material increase in access to credit to its partners’ customers.
” Expanding access to financial tools and services is core to Visa’s purpose – uplifting everyone everywhere – and we’re excited to work with companies who bring new technologies to this challenge. Through our partnership with Pagaya, we’re providing our issuing bank clients and co-brand partners with next-generation technology to expand their customer base, boost conversion rates, increase purchasing power, and thus grow their revenue,” said, Jack Funda SVP and Global Head of Merchant Sales Partnerships at Visa.
