A payment option that lets a buyer take a purchase immediately and split the cost into a few smaller, scheduled payments instead of paying the full amount up front. For investors, it matters because it can boost sales and customer loyalty for merchants, create fee and interest income for the lender, and introduce credit, default and regulatory risks that can affect revenue and valuation much like a change in a company’s loan book or consumer demand would.
bnplfinancial
Buy Now, Pay Later (BNPL) is a service that allows consumers to purchase items immediately and pay for them over a set period, often through installment payments. For investors, BNPL companies represent a way to facilitate spending and generate revenue from transaction fees and interest, making them an important part of the evolving digital payments landscape.
point-of-salefinancial
The point-of-sale is the place and moment where a customer completes a purchase — think of the checkout counter, card reader, or online checkout page. It includes the hardware and software that record the sale, accept payment, and update inventory and sales records. Investors care because POS systems drive revenue collection, customer data, and operational efficiency; outages, fees, or weak data from POS can directly affect sales, margins and forecasts.
underwritingfinancial
Underwriting is the process where a financial institution agrees to buy and then resell new stocks or bonds to investors. It matters because it helps companies raise money quickly and smoothly, while the bank takes on the risk of selling those securities at the agreed price. Think of it like a booker guaranteeing to sell all tickets for a concert before opening the doors.
Asset-backed securitization is a process where a financial institution pools together a group of assets—such as loans or receivables—and converts them into a security that can be sold to investors. This allows the original lender to raise funds quickly, while investors gain access to a stream of payments derived from the underlying assets. It’s similar to bundling multiple small income sources into a single investment, providing both liquidity for lenders and investment opportunities for others.
absfinancial
Asset-backed securities (ABS) are financial instruments that bundle many individual loans or receivables—such as car loans, credit-card balances or equipment leases—and sell slices of the bundle to investors. Like slicing a loaf of bread into pieces to share, ABS let investors buy a portion of the cash flows from many borrowers, so their credit quality, payment speed and default rates directly affect the income, risk and liquidity investors receive.
revolving credit facilityfinancial
A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.
senior notesfinancial
Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.
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Expansion into Flex Pay, Upgrade’s Buy Now, Pay Later Solution, builds on collaboration between Pagaya and Upgrade
NEW YORK--(BUSINESS WIRE)--
Pagaya Technologies Ltd. (NASDAQ: PGY) (“Pagaya”), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced an expansion of its long-term partnership with Upgrade, Inc., a financial technology company providing affordable and responsible credit, mobile banking and payment products to mainstream consumers. The expansion brings Pagaya’s AI-driven credit decisioning to Flex Pay, Upgrade’s Buy Now, Pay Later (BNPL) solution.
The announcement marks a significant milestone in the ongoing partnership between the two companies, moving beyond personal loans into a new asset class. With Pagaya integrated into its point-of-sale solution, Upgrade can responsibly extend its simple, surprise-free Flex Pay monthly payment options to a broader range of customers at the moment of purchase.
“By leveraging Pagaya’s AI-powered decisioning within our Flex Pay product, we are enabling more people to access the payment solutions they need, allowing them to make thoughtful purchases now and pay overtime through a quick and easy application process,” said Tom Botts, President of Flex Pay.
The initial partnership expansion focuses on the travel merchant segment, where Flex Pay is a trusted payment method for thousands of the world’s leading brands. By utilizing Pagaya’s real-time underwriting, Upgrade will be able to extend its seamless Flex Pay financing options to more customers across its extensive network of travel partners.
“Our expanded partnership with Upgrade to integrate into Flex Pay underscores the strength of our long-term relationship, as we deepen our collaboration beyond personal loans,” said Sanjiv Das, President of Pagaya. “By extending our network across new asset classes, we are supporting Flex Pay as it continues to grow. This expansion is part of our strategy to extend our point-of-sale business towards more purpose-driven transactions.”
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 an AI-driven approach, Pagaya provides consumer credit and other 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. For more information, visit pagaya.com.
About Upgrade
Upgrade is a financial technology company that offers affordable and responsible credit, mobile banking, and payment products to mainstream consumers. Since its inception in 2017, Upgrade has delivered over $47 billion in credit to over 7.8 million customers. Upgrade’s platform includes six core products: BNPL, Home Improvement Financing, Personal Loans, Cards, Mobile Banking, and Auto Financing. Loans and credit lines are issued, and banking services are provided, by Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender, Blue Ridge Bank, a nationally chartered commercial bank, Member FDIC, and Celtic Bank, a Utah State Chartered Industrial Bank, Member FDIC.
Upgrade is headquartered in San Francisco, California, with an operations center in Phoenix, Arizona, a technology center in Montreal, Canada, and regional offices in Atlanta, Georgia, and Irvine, California.
