PensionPay Announces Collaboration with Visa to Bring Innovation to Pension Access

PensionPay, an innovative embedded finance solution to support pensions and investments platforms, today announced a new collaboration with Visa, a world leader in digital payments.

The platform is the UK’s first digital wallet for retirement savings and investments where providers and schemes can offer savers instant, tax-aware withdrawals, and intuitive control over spending.

PensionPay will launch a Visa-branded card together with a digital wallet that pension providers can white label. Leveraging Visa’s global network and trusted payments infrastructure, the platform will enable providers to deliver secure, fast and seamless transactions.

The PensionPay proposition is a new way for pension schemes and providers to support increased pensions contributions and make accessing retirement income simpler, faster and more convenient for savers. The collaboration brings innovation to the pension market helping providers to improve member experience, strengthen retention, and meet regulatory expectations on value for money and Consumer Duty.

Duncan Rutherford, Founder and CEO at PensionPay said:

“Working with Visa allows us to connect pensions to the payments infrastructure people already trust in everyday life. We know savers lack confidence, clarity and control over their retirement savings – this is a major step towards helping to deliver those.”

Claire Dopson, Head of New Business Development, UK & Ireland at Visa, added:

“Visa is committed to supporting innovation that makes everyday financial experiences more convenient and secure. By collaborating with companies like PensionPay, we’re helping expand access to trusted payment solutions that simplify how people manage their money in retirement.”