Visa and Pagaya have announced a strategic relationship that will 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 a global technology company building artificial intelligence infrastructure for the financial ecosystem, and Visa, a world leader in digital payments, facilitating more than 160 billion payments transactions worldwide. Together, both companies will enable users receive seamless services.
Pagaya’s 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.
Partners leveraging Pagaya’s technology and funding solutions benefit from the ability to expand credit available to their customers leading to greater customer acquisition, purchasing power, and brand loyalty. This collaboration will seek to drive growth for Visa’s network of merchants and issuing financial institutions.
“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,” said Leslie Gillin, chief growth officer of Pagaya.
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.