BIZ BUZZ: Smartphones for all
PLDT Inc. is making smartphones more accessible to Filipinos in this mobile-first country. Its partnership with PayJoy will provide consumers financing solutions so they can afford to buy a device even without a credit card.
Filipinos can be granted loans by just providing an ID and phone number. Payments can be settled weekly over a period of up to nine months.
“This collaboration aims to provide Filipino consumers, particularly those with limited budgets and no access to traditional credit, the opportunity to purchase mid to high-end smartphones through innovative financing solutions that will enable them to upgrade their means of communication and easier access to information,” said Jac Bocalan, vice president at PLDT Inc. wireless unit Smart Communications.
The Pangilinan-led company is pushing for this initiative as it moves to expand adoption of 4G and 5G connectivity in the country, which is supported by smartphones.
The telco giant’s 4G and 5G network covers 97 percent of the population.
PayJoy currently serves 66 million low-income consumers, targeting underserved market.
