PayJoy

Secured credit for emerging-market consumers

PayJoy provides secured credit to people entering the formal credit system for the first time, using patented technology that turns a device purchase into an on-ramp. Through point-of-sale financing and card products, customers gain access to a modern quality of life that would otherwise be closed to them, and the credit does double duty: funding opportunities for micro-entrepreneurs and acting as insurance when times are hard. Machine learning and data science underpin the underwriting, which is what makes lending to people without conventional credit histories work at all.