Nigerians Gain Access to Smartphones Through PayJoy’s PAYG-System
Nigerians now have an innovative way to acquire smartphones thanks to PayJoy, a tech company from Silicon Valley, partnering with MTN, TD Mobile, and Sterling Bank. The Pay-as-you-go (PAYG) system, featuring PayJoy Lock, offers financial inclusion by enabling customers to own smartphones without upfront costs. Samsung is the first brand to join this system, available initially at select MTN stores in Lagos, Abuja, and Port Harcourt. Source.
The initiative is praised by key partners. Dominique Friedl, PayJoy’s General Manager for Africa, emphasises that this technology aids people who cannot access traditional credit systems, thus promoting financial inclusion. TD Mobile’s MD, Gozy Ijogun, notes the benefits of allowing more Nigerians to own smartphones within their budgets. Additionally, MTN Nigeria offers perks like 2GB of free monthly data. Sterling Bank’s Shina Atilola highlights the scheme’s widespread accessibility, making it feasible for most Nigerians to own high-end devices. Could mobile financing models like PayJoy shape Africa’s tech landscape?
Join the conversation: How do you think this PAYG model will impact smartphone penetration and digital connectivity in Nigeria?
