Pinwheel and Visa collaborated to provide businesses with access to consumer-permitted employment and income data.
Pinwheel may more swiftly, safely, and compliantly transmit this data to merchants, financial institutions, and FinTech businesses by enrolling in the Visa Fintech Connect Program, according to a news release released by the companies on Wednesday (March 29).
“We’re happy to be able to communicate more directly with the FinTechs and financial institutions in Visa’s ecosystem to enable them to take advantage of our leading income and employment data linkage,” said Pinwheel Chief Revenue Officer Lauren Crossett.\
Our objective is to create a more egalitarian financial system, and partnering with Visa will enable us to expand our network of potential collaborators on the creation of consumer-centric products and services.
Pinwheel provides consumers with access to its real-time data through an API (API). According to the press release, it uses analytics and intelligence to help them make sense of the data.
The data is used by financial institutions and FinTechs, according to the press release, to enable direct deposit switching, earned wage access, and other cutting-edge products.
