PayLaterr has announced a partnership with Experian to improve its fraud detection capabilities and utilise alternative data for better financial decision-making.
The collaboration aims to enhance security measures and provide more inclusive budgeting tools for consumers.
PayLaterr is engaged in facilitating flexible payment of essential bills such as rent and utilities. The company plans to integrate Experian’s fraud detection tools and alternative credit data solutions into its platform.
This integration will enable PayLaterr to detect fraudulent activity in real-time using Experian’s advanced analytics. Additionally, PayLaterr will employ non-traditional data points like utility payments and rental history to gain insights into users’ financial behaviours, particularly benefiting those without traditional credit histories.
Experian, a credit reporting agency operating in over 40 countries, provides businesses with risk management solutions and assists consumers in gaining financial control through data-driven insights.
By partnering with Experian, PayLaterr seeks to broaden access to its budgeting tools, particularly for individuals often neglected by conventional financial systems.
Currently assisting tens of thousands of users in managing their essential expenses through instalment plans, PayLaterr intends to leverage Experian’s technology to enhance user protection and streamline onboarding.
This initiative is expected to offer more precise budgeting recommendations while increasing access to financial resources for credit-invisible populations.
PayLaterr CEO Akeem Egbeyemi said: “Our mission at PayLaterr is to make bill payments easier and more accessible for everyone.
“Partnering with Experian gives us the tools to protect our platform from fraud and empower a broader customer base with smarter, more inclusive budgeting insights. This is a major step forward in our goal to help people take control of their financial lives.”
The roll-out of this integration is scheduled to be completed and available to all PayLaterr users by autumn 2025.
Experian partnerships vice president Shelleyanne Rein said: “We’re excited to support PayLaterr’s commitment to financial inclusion.
“By combining our fraud prevention and alternative data capabilities, we’re enabling safer transactions and helping more consumers manage their money with confidence.”
