With fixed total amounts and transparent terms, PayJoy Card
helps the underbanked avoid debt traps and redefines how fair
lending is done
SAN
FRANCISCO, May 13, 2024 /PRNewswire-PRWeb/ -- PayJoy,
the leading lender to the underserved in emerging markets, today
announces the launch of the PayJoy Card, offering a new way for
borrowers to access affordable credit. Since its founding in 2015,
PayJoy has been helping the underserved escape poverty and gain
economic freedom by turning smartphones into collateral for
lending, allowing them to build credit. Now, the PayJoy Card allows
customers to use their PayJoy credit for all kinds of in-store and
online shopping.
"With the PayJoy Card, we're helping
customers easily access their funds, which they can use to pay for
everyday essentials – from groceries to household expenses,
transportation, and more."
"Our products allow more people to gain access to the financial
system," said Raymond Katz, VP of
Product at PayJoy. "With the PayJoy Card, we're helping customers
easily access their funds, which they can use to pay for everyday
essentials – from groceries to household expenses, transportation,
and more. We're excited to continue improving our customers'
long-term financial well-being and help make their lives
easier."
By fixing the total amount customers have to pay upfront, the
PayJoy Card redefines how fair lending is done for the underbanked.
With no late fees, hidden costs, or surprises, the PayJoy Card
guides borrowers away from traditional alternatives and debt traps.
Accessible through a secure app, the Card empowers users to access
funds as needed. Its user-friendly interface has gained massive
attraction and growth.
The PayJoy Card is offered through Mastercard and is currently
available in Mexico. The Card
allows parents, small business owners, first-time card owners, and
working-class individuals to make purchases online and in any
establishment in Mexico that
accepts credit card payments.
"Our customer-centric experience, coupled with our commitment to
transparency and ethical lending practices gives users the tools
and information they need to improve their financial health,"
continued Katz. "The PayJoy Card underscores our dedication to
redefining financial accessibility and inclusivity as well as our
commitment to maintaining fair practices and fostering trust among
our users. We're only at the beginning of the road and plan to
continue our pace of innovation in the coming months and
years."
For more information about PayJoy, visit
https://www.payjoy.com/.
About PayJoy
PayJoy is a Public Benefit Corporation that provides a fair and
responsible entry point for individuals in emerging markets to
access the modern financial system, build credit, achieve economic
freedom, and access digital connectivity. Founded in 2015, PayJoy
has provided credit to more than 10 million customers across
Mexico, Brazil, South
Africa, Ecuador,
Peru, Panama, Colombia, and the
Philippines. PayJoy runs profitably and employs over 1,000
people worldwide. For more information, visit
https://www.payjoy.com/.
Media Contact
Tisha Ferraro, PayJoy,
9255881610, payjoy@thekeypr.com, https://www.payjoy.com/
View original content to download
multimedia:https://www.prweb.com/releases/payjoy-launches-the-payjoy-card-helping-customers-build-credit-and-achieve-economic-freedom-302143819.html
SOURCE PayJoy