PayJoy enables people without credit in emerging markets to purchase a new smartphone on installment and subsidy plans by using their smartphone as collateral. PayJoy does this in a transparent and consumer-friendly way. PayJoy is active in some 20 developing markets, including in Mexico, where PayJoy lends its own funds directly to consumers. PayJoy’s approach has resulted in a compelling consumer value proposition that includes no late fee for missed payments, and has earned a remarkable Net Promoter Score of 80. Outside Mexico, PayJoy licenses its technology to lenders, hence advancing PayJoy’s mission to bring finance and connectivity to the “Next Billion” consumers. PayJoy has also rolled out a Cash Loan offers product (in beta) to consumers. With customer consent, PayJoy also performs credit scoring with a vision to build a “credit bureau for emerging markets” to give financially underserved users access to much-needed credit and a financial identity