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PayJoy Announces Global Access to Lock API To Enable Finance for the Next BillionSAN FRANCISCO, Feb. 20, 2019 /CNW/ -- PayJoy, the leading enabler of pay-as-you-go smartphone financing, announced today global availability of its patented Lock API. The API allows PayJoy's lending partners to secure financing with compatible smartphones. This global expansion, alongside expanded compatibility through its recently announced partnership with Qualcomm, propels PayJoy from successful deployments in 10 strategic markets such as Indonesia, India, and Nigeria to a path to provide access to financing to the next billion. "The fundamental challenge in extending credit in emerging markets -- whether for a loan or a phone -- is the lack of collateral and underwriting data. By introducing a way for consumers to pledge their smartphone as collateral virtually, we give finance companies a tool to approve a lot more people with the comfort that it has a proven history of cutting defaults in half," said Mark Heynen, Co-founder and Chief Business Officer at PayJoy. "With affordability being top of mind, we created a technology that empowers lenders to better leverage pay-as-you-go smartphone loans with fewer defaults." Currently, PayJoy has deployed over the past three years the lock technology successfully with tier one partners in the following markets:
Learn more and sign up for a free trial from anywhere in the world at www.payjoy.com. About PayJoy: For more information, visit www.payjoy.com. Join the smartphone financing conversation by visiting the PayJoy blog, Twitter, LinkedIn and Facebook pages. Media Inquiries: View original content to download multimedia:http://www.prnewswire.com/news-releases/payjoy-announces-global-access-to-lock-api-to-enable-finance-for-the-next-billion-300799028.html SOURCE PayJoy |