The Rise of Pay-as-You-Go Smartphone Finance: A Conversation with PayJoy


15 January 2020 9:00 am - 10:00 am EST
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On January 15, 2020, as part of CGAP’s global exploration of innovations in asset finance, we hosted a webinar on pay-as-you-go (PAYGo) smartphone financing featuring PayJoy’s Tom Jahnes. By partnering with retailers and financial institutions, PayJoy allows customers to purchase a smartphone on credit and pay in installments over time. Each payment provides the customer with 30 days of use, after which the company’s “lock” app deactivates the phone until the next payment is made. Similar to the model used by PAYGo solar home system lenders, lockout technology allows PayJoy to leverage the value customers place in their phone to motivate loan repayment. This webinar provided an overview of PayJoy’s global experience and an opportunity to dig into the implications that smartphone financing holds for the future of financial inclusion.

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Photo of speaker Tom Jaines

Tom Jahnes | Business Development Director, PayJoy

Tom Jahnes is PayJoy's business development director, focusing on OEM relationships globally. He has been with PayJoy since 2017. Previously, he worked in financial solutions at Brightstar (a Softbank company) and with Western Union, where he managed the Central American Territory, among other roles. He also has experience in consumer marketing with GlaxoSmithKline. He has had several international postings in Latin America and Europe and is currently based in Florida. He is a graduate of Thunderbird, the American Graduate School of International Management and the University of Florida.

Photo of speaker Max Mattern

Max Mattern | Financial Sector Specialist, CGAP

Max Mattern has nearly a decade of experience working in international development, much of which has focused on understanding the potential of financial services to improve the lives of the economically and socially excluded. He currently manages CGAP’s work in Ghana, which aims to build a more robust and inclusive digital financial services ecosystem in the country. Additionally, he contributes to CGAP’s work exploring links between financial services and development outcomes, with a focus on innovations in financing for productive assets.