PayJoy has developed technology that helps facilitate credit in emerging markets for consumers looking to purchase a smartphone; they enable consumers with no bank accounts or credit history to obtain an installment loan; the phone is used as collateral on the loan with software that locks the phone if they user misses a payment; this is a financial inclusion initiative as smartphone adoption is one of the key stepping stones to the broader adoption of financial services; PayJoy operates in 10 developing countries but is based in San Francisco. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.