In the Media

Doug Ricket '01, MEng '02 co-founded PayJoy, a startup that aims to “provide a fair and responsible entry point for individuals in emerging markets to enter the modern financial system, build credit, achieve economic freedom, and access digital connectivity,” reports Mary Ann Azevedo for TechCrunch. “PayJoy is applying a buy now, pay-as-you-go model to the estimated 3 billion adults globally who don’t have credit by allowing them to purchase smartphones and pay weekly for a 3- to 12-month period. The phones themselves are used as collateral for the loan,” explains Azevedo.