Smart and PayJoy Join Forces to Enhance Credit Accessibility for Filipino Consumers
Smart and PayJoy Join Forces to Enhance Credit Accessibility for Filipino Consumers
In an era where smartphones are an essential part of daily life, the partnership between Smart Communications, Inc. and PayJoy is a game changer for consumers in the Philippines. With an increasing number of smartphone users projected to surpass 80 million in the next four years, this collaboration is strategically timed to meet the demand for mobile services and technology access.
Empowering Consumers through Innovative Financing
The primary goal of the Smart and PayJoy partnership is to offer Filipino consumers, especially those with limited financial means and traditional credit access, the chance to purchase smartphones through innovative financing solutions. Consumers can now easily acquire mid to high-end smartphones without the need for a credit card. Instead, all they need is an identification card and a phone number. This accessibility is revolutionary for users who have typically been excluded from conventional credit systems.
Payments are structured to be flexible, allowing customers to choose from weekly repayment plans over four, six, or nine months. This flexibility significantly lowers the barriers for ownership, enabling more individuals to stay connected—whether for work, education, or personal use.
Addressing the Digital Divide
Jacqueline Bocalan, Vice President of Smart, expressed the company's commitment to supporting Filipino consumers by bridging the digital divide. The initiative aims to ensure more people can take advantage of Smart's robust 4G/LTE and 5G network, which enhances connectivity and facilitates a broad range of mobile applications from productivity tools to entertainment platforms. “By providing accessible financing options for smartphones, we are helping bridge the digital divide,” Bocalan noted.
Christian So, the OIC-AVP Sales Head at Smart, emphasized that the collaboration reflects Smart's commitment to innovation while expanding its reach. The partnership not only focuses on enabling device ownership but also encourages users to upgrade from older 3G services to modern 4G/LTE and 5G networks for a significantly better user experience. This push towards modern technology is critical in a rapidly evolving digital landscape, where staying connected is paramount.
PayJoy’s Contribution to Financial Inclusion
PayJoy is not new to the mission of enhancing financial inclusion. They already provide responsible financing to 66 million low-income consumers in the Philippines and support underserved populations throughout emerging markets. Their innovative approach combines proprietary phone-security technology with AI-driven underwriting, making it possible for borrowers to build credit responsibly and gain access to necessary digital tools for education and work.
“Our mission is to unlock financial freedom for the next billion people worldwide,” stated Rene Payan, Country Manager at PayJoy. The partnership with Smart is a pivotal step towards enabling more Filipinos to access the technology needed to elevate their quality of life.
Connectivity Expansion
As part of the promotional initiatives accompanying this partnership, customers who purchase eligible mobile devices bundled with a Smart/TNT Prepaid SIM can avail themselves of a special offer: a free one-month device amortization if they commit to a nine-month repayment plan. This offer, running until February 24, 2026, exemplifies the collaborative spirit of Smart and PayJoy in making technology accessible and affordable.
Furthermore, Smart's ongoing efforts to expand its 4G and 5G network underscore its dedication to enhancing user experiences across the Philippines. With coverage extending to 97% of the population, Smart aims to ensure that all consumers can enjoy seamless internet connectivity and high-quality mobile experiences.
Conclusion
The partnership between Smart and PayJoy is poised to empower countless consumers in the Philippines by providing critical access to technology through innovative financing options. As they work together to bridge the digital divide, both companies are not only enhancing individual mobility but are also contributing to the broader goal of sustainable development outlined by the United Nations. By investing in technology and connectivity, Smart and PayJoy are setting a crucial precedent for the future of digital inclusion in the region.