PayJoy

San Francisco, California, USA · ≈1.6K employees · payjoy.com

PayJoy is a financial technology company based in San Francisco, California, focused on providing smartphone financing and accessible credit products to underserved customers in emerging markets. Founded in 2015 at Stanford University, PayJoy uses patented phone-security technology to enable individuals without traditional credit histories to purchase smartphones on a pay-as-you-go basis. The company aims to deliver access to credit to the next billion people, helping them achieve financial stability and digital connectivity. The primary service offered by PayJoy is smartphone financing, allowing customers to select a device, make a small deposit, and choose a flexible payment plan. The company also provides financing for essential electronics and appliances, such as TVs and washing machines. PayJoy employs advanced machine learning and anti-fraud AI to assess risk and improve affordability, making it easier for first-time borrowers to access credit. Operating in nine countries across Latin America, Africa, and Southeast Asia, PayJoy has reached over 15 million customers and issued approximately $3 billion in credit by 2025.