Pagaya to Offer More Installment Financing Solutions for Banks and Merchants Through Mastercard Engage Program

Pagaya selected for Engage program to enable more banks and fintech partners to deliver real-time installment loans for more customers in fast-growing point-of-sale space

Pagaya Technologies Ltd. (NASDAQ: PGY) (the “Company” or “Pagaya”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced it is joining the Mastercard Engage program. The Mastercard Engage program connects qualified fintech enablers to banks, merchants, fintechs and more to help them accelerate product innovation through access to the company's global network, expertise, technology, and resources.

As a member of the Engage program, Pagaya’s AI network will facilitate smarter, faster credit decisions that will help banks and fintechs to enable more installment opportunities for Mastercard’s customers at the point-of-sale (POS).

“By joining the Mastercard Engage partner network, Pagaya’s AI network is continuing to transform the consumer finance ecosystem by finding new ways to help banks and merchants deepen customer relationships, without taking on incremental risk,” said Sanjiv Das, President of Pagaya. “This collaboration will help accelerate further innovation and financial inclusion in the POS space, creating more financial opportunities for more people, more often.”

The Engage program supports more than 170 partners, including Pagaya, and in 2023 alone, Engage partners signed hundreds of commercial deals with Mastercard customers.

About Pagaya

Pagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide, as it reshapes the financial services ecosystem. By using machine learning, a vast data network and a sophisticated AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate products for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. Pagaya has offices in New York and Tel Aviv. For more information, visit pagaya.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240612017508/en/

Emily Passer Head of PR & External Communications, Pagaya [e-mail]