Pagaya Partners With Visa for Increased Access to Financial Products

Artificial intelligence (AI) infrastructure platform Pagaya Technologies Ltd. and digital payments behemoth Visa launched a strategic partnership on Tuesday (Jan. 25) to give Visa’s merchant partner network access to Pagaya’s technology, expanding customers’ access to financial products.

Pagaya’s proprietary AI technology and infrastructure “enable banks, originators and merchants to offer robust access to financial products through a seamless and white-labeled customer experience,” the joint announcement says.

Pagaya users can offer expanded credit to their customers, giving them greater customer acquisition capabilities, more purchasing power and higher brand loyalty. Per the announcement, the Pagaya-Visa partnership “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,” said Leslie Gillin, chief growth officer of Pagaya. “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.”

Visa will have preferred access to Pagaya’s technology, the joint announcement says, allowing increased access to credit for 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,” said Jack Funda, senior vice president and global head of merchant sales partnerships at Visa.

“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,” Funda continued.

Related: Pagaya Teams With SoFi to Simplify Credit Access

In October, Pagaya collaborated with digital personal finance company SoFi, allowing SoFi to expand members’ access to its financial products via Pagaya’s AI, technology and infrastructure.