Notes on onboarding the next billion

Innovative technologies like the PayJoy Lock are likely to lead to the next smartphone boom on the continent. The last few years have been tough for smartphone shipments in Africa. However, according to the most recent figures announced by International Data Corporation (IDC) in 2018, Africa experienced year-on-year growth in…

By Gib Lopez, Co-Founder and COO and Camila Perez Aloi, Senior Risk Manager When we started PayJoy five years ago, our theory was that we could unstick the credit ecosystem by providing customers with little or no access to credit with collateral in the form of smartphones and giving lenders…

By Jaideep Mirchandani, Chief Product Officer In previous PayJoy blog posts, we highlighted the problem of lending to the underbanked and how PayJoy technologies are helping to solve this problem. Core technologies like the PayJoy Lock and Score enable our partners to reach underserved consumers by solving the collateral and…

We absolutely encourage prospective PayJoy clients to pilot the PayJoy Lock with our 30 day unlimited activations free trial before making the technical investment to integrate with Lock API.  To make pilots faster to deploy, we’ve built a bulk upload feature that enables clients to remotely update Locks across their…

Credit scoring for the mobile age PayJoy now provides world-class credit scoring. We have launched a credit score based on smartphone data and integrated it into our app; we call this new product Score. Score reduces defaults on our own consumer phone-purchase and cash-loan portfolios by up to 50%. In…

By Chris Moore, Nam Pham, Mauricio Castaneda, Dominique Friedl, Jenny Jin In rural areas in Africa and Indonesia, our users who are financing a smartphone with the PayJoy Lock might experience a poor user experience if they are not able to update their device once they’ve made a payment due…