Can a simple locking app unleash a billion new smartphone customers?
After a decade of growth, smartphone sales have hit a wall. Gartner predicts the market in 2019 will shrink by 3.2 per cent. 5G phones aside, many experts believe there is no growth left to be had.
Are they right? Not entirely.
There is an unmet market of more than a billion consumers. These underbanked people often earn enough income to afford repayments on a smartphone financing plan. The problem? They have no credit history required to get the loan.
PayJoy’s pioneering Lock technology unleashes this army of new smartphone users and gives MNOs, handset OEMs, distributors and lenders a unique opportunity to:
• immediately double sales volume
• increase average selling price (ASP) by 33%
• improve subscriber loyalty
• decrease customer default rates by 50%
PayJoy’s smartphone financing methodology and Lock app provides the new model to get smartphones into the hands of the next billion. OEMs, MNOs and their partners in retail, distribution and financial services are reaching consumer segments not previously thought possible.
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