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PayJoy
Overview
PayJoy is a finance company based in the United States, established in 2015, and employs between 501 and 1,000 individuals. The company operates primarily in the banking sector and focuses on providing smartphone financing solutions. A key theme in their published research highlights the role of smartphone finance in empowering working mothers in Mexico, particularly those engaged in the informal economy. According to their 2024 report, a significant portion of working women in Mexico are mothers, with many balancing multiple jobs and micro-entrepreneurial activities to improve their economic situations. The report notes that smartphone financing has enabled these women to maintain employment and manage caregiving responsibilities more effectively. By facilitating access to credit through smartphone ownership, PayJoy supports these individuals in building financial independence and confidence. The findings indicate that a majority of their female customers are working mothers, with many reporting increased income due to smartphone access. This research underscores PayJoy's commitment to enhancing economic mobility and financial inclusion through innovative financing solutions.