Balancing Profit and Inclusion

PayJoy Public
Benefit Framework.

As a Public Benefit Corporation, PayJoy balances two objectives:

Operating profitably

Creating public benefit by providing responsible global credit access

Our Approach

We combine rational long-term profit maximizing capitalism with a clear and measurable social impact:

Long-term profit-maximization

‍creates businesses that have broad access to global investment capital, allowing them to scale to their maximum potential

Positive social impact

‍ as a goal led PayJoy to develop novel solutions to deliver credit access to the underserved. Focusing on the ultimate customer benefit allows PayJoy to attract mission-motivated talent and facilitates acceptance by national regulators.

In practice, we have found that the result of combining profit maximization plus social impact is that we can scale our impact massively into the many billions of dollars, beyond what even the largest charities on Earth could hope to achieve.

In the graph above, PayJoy’s approach falls between social business and long-term profit maximization. Since the original writing of this framework in 2021 we have over 20 million proof points that this approach is profitably solving a real global need. We operate as a for-profit corporation with a mission to expand responsible global credit access. Our regular and empirical testing of our beliefs ensure that we will not maximize profitability or scalability in a way that is incongruent with the social benefit we serve.

PayJoy Customer Charter

We aspire to offer our customers a transparent, fair and delightful experience

Belief: Responsible

See clear and transparent pricing and fees before agreeing to a contract. For instance, we never add fees or charges other than what you sign up for at point of purchase.

Lock Awareness

Know how and when the lock will be engaged and how and when your payment will unlock the device.

Direct and Easy Communication

Communicate with PayJoy 100% via digital means (without being required to exchange paper except where required by law).

Efficient Response

Directly raise concerns with PayJoy and expect to receive a response to your concern.

Emergency Services

You can use emergency services and customer service on a PayJoy locked phone regardless of lock state.

Respect and Dignity

You won’t be subject to threats or intimidation during the collection process and we won’t use your contacts or social networks to intimidate you. And all repercussions of non-payment will be clearly stated upfront (e.g. impact on credit).