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PayJoys mobile locking technology and data science enable financial inclusion for billions worldwide.We enable people worldwide in emerging markets to purchase a new smartphone on installment payments and to get cash loans using their smartphone as collateral.Founded in 2015, PayJoy has helped tens of thousands of underbanked consumers in emerging markets, across the U.S., Latin America, Southeast Asia, Africa, and India.
PayJoy is a consumer finance platform that allows consumers to buy smartphones by changing the upfront phone charges into equated monthly installments. The company partners with retailers to provide these services. PayJoy's pay-to-own contracts app come pre-enabled (installed by the retailer) on the smartphone and this enables companies to lock the android phone in case of non-payment of the EMI. Customers register for PayJoy at a local merchant with their Facebook account, phone number, and government issued I.D.
App for retailers to provide EMI options to smartphone buying customers
The company does not disclose revenue model information. However, they could generate revenue from the interest rate earned from customer repayment and also could generate part of revenue as a sales commission from the retailer.
Tu Centro Mobile
Azteck Communications and Retail Customers
$56.17 M in 2016
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