PayJoy Reports Impressive 40% Growth, Enhancing Financial Security for Underbanked Consumers

PayJoy's Remarkable Growth in Financial Services for Underbanked Consumers

PayJoy, a prominent name in financial services for underserved populations, has recently published its 2025 Impact Report, revealing impressive growth figures and a strong commitment to enhancing financial stability among underbanked consumers. In a landscape where access to financial resources remains a challenge for many, PayJoy has expanded its reach significantly, helping over 18 million customers across nine different countries and witnessing a remarkable year-over-year growth exceeding 40%.

Addressing Financial Exclusion

A considerable portion of PayJoy’s customer base consists of individuals who are predominantly underbanked. The report indicates that around 45% of these customers lack any formal financial accounts, and intriguing statistics show that 33% of users are new to credit, with 31% utilizing smartphones for the first time. This demographic highlights the supportive role PayJoy plays in bridging the gap for people who have traditionally been left out of the financial ecosystem.

The importance of financial security extends beyond mere numbers. The report sheds light on the challenges faced by gig workers, who now form 59% of PayJoy’s clientele. Many workers in the gig economy juggle various jobs to generate income, making them particularly vulnerable due to income instability and inadequate access to conventional credit solutions and social safety nets. PayJoy seeks to address these systemic issues through its innovative secured-credit model, which provides the following benefits:

- Flexible Credit Access: Enabling users to manage income fluctuations effectively.
- Reliable Work Tools: Offering essential access to tools like smartphones, which assist in work endeavors.

Enhanced Financial Stability

Feedback from PayJoy customers underscores the positive impact of their services. Studies reveal that a staggering 87% of customers now feel more financially secure due to access to PayJoy credit. Furthermore, 86% report that their PayJoy-financed smartphones have been crucial in performing tasks related to their jobs or businesses. This statistic not only reflects enhanced financial stability but also emphasizes the empowering nature of technology and credit accessibility in everyday work and life.

For more in-depth insights, the full 2025 PayJoy Impact Report is accessible at PayJoy Impact Report. Additionally, the report includes findings from a study titled _Gig Workers and the Hidden Infrastructure of Credit Access_, providing a comprehensive look into how gig workers navigate the financial landscape.

About PayJoy

Founded with the mission to democratize credit in emerging markets, PayJoy is at the forefront of offering financial services that facilitate credit access through point-of-sale financing and credit card products. With its proprietary secured-credit technology, PayJoy empowers first-time borrowers to build a solid financial foundation and engage in the modern economy actively. The company has successfully financed over $3.5 billion in loans, impacting more than 18 million consumers worldwide and employing over 1,000 individuals.

As it continues to innovate and adapt, PayJoy is committed to expanding its reach and resources, enhancing the economic stability of underserved communities. For further details and information, visit PayJoy's website.